State Street Corp increased its position in Spartan Motors Inc (NASDAQ:SPAR) by 11.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 532,969 shares of the company’s stock after purchasing an additional 55,350 shares during the period. State Street Corp owned 1.52% of Spartan Motors worth $4,719,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Voya Investment Management LLC grew its position in shares of Spartan Motors by 18.9% during the second quarter. Voya Investment Management LLC now owns 19,185 shares of the company’s stock worth $170,000 after purchasing an additional 3,049 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in shares of Spartan Motors by 12.2% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 25,563 shares of the company’s stock valued at $205,000 after purchasing an additional 2,776 shares during the last quarter. Alliancebernstein L.P. bought a new stake in shares of Spartan Motors in the 2nd quarter valued at approximately $208,000. Royal Bank of Canada lifted its stake in shares of Spartan Motors by 213.5% in the 2nd quarter. Royal Bank of Canada now owns 27,755 shares of the company’s stock valued at $245,000 after purchasing an additional 18,903 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Spartan Motors by 13.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 40,209 shares of the company’s stock valued at $356,000 after purchasing an additional 4,670 shares during the last quarter. 66.23% of the stock is currently owned by institutional investors.
Spartan Motors Inc (NASDAQ:SPAR) opened at $15.55 on Friday. The firm has a market capitalization of $540.59, a PE ratio of 42.78, a P/E/G ratio of 2.54 and a beta of 1.21. Spartan Motors Inc has a fifty-two week low of $6.30 and a fifty-two week high of $17.20. The company has a quick ratio of 0.95, a current ratio of 1.70 and a debt-to-equity ratio of 0.14.
The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a yield of 0.65%. Spartan Motors’s dividend payout ratio (DPR) is currently 24.39%.
SPAR has been the subject of a number of research analyst reports. Zacks Investment Research lowered Spartan Motors from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. TheStreet lowered Spartan Motors from a “b-” rating to a “c+” rating in a research report on Thursday, August 24th. Craig Hallum set a $20.00 target price on Spartan Motors and gave the company a “buy” rating in a research report on Friday, October 13th. Roth Capital lifted their price target on Spartan Motors from $12.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, October 17th. Finally, Sidoti assumed coverage on Spartan Motors in a report on Friday, December 1st. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Spartan Motors presently has a consensus rating of “Buy” and an average price target of $17.00.
Spartan Motors Profile
Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment.
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