Virginia Retirement Systems ET AL Sells 29,100 Shares of Meritor, Inc. (MTOR)

Virginia Retirement Systems ET AL lowered its stake in shares of Meritor, Inc. (NYSE:MTOR) by 44.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,800 shares of the auto parts company’s stock after selling 29,100 shares during the period. Virginia Retirement Systems ET AL’s holdings in Meritor were worth $736,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Schroder Investment Management Group bought a new position in Meritor during the fourth quarter worth about $136,000. New York State Teachers Retirement System bought a new position in Meritor during the first quarter worth about $154,000. Sciencast Management LP bought a new position in Meritor during the fourth quarter worth about $318,000. Parametrica Management Ltd bought a new position in Meritor during the fourth quarter worth about $356,000. Finally, Caxton Associates LP boosted its holdings in Meritor by 47.7% during the fourth quarter. Caxton Associates LP now owns 16,843 shares of the auto parts company’s stock worth $395,000 after buying an additional 5,443 shares during the last quarter. Hedge funds and other institutional investors own 97.85% of the company’s stock.

In related news, SVP Joseph A. Plomin sold 15,826 shares of Meritor stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $25.64, for a total value of $405,778.64. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.32% of the stock is currently owned by company insiders.

A number of brokerages have issued reports on MTOR. Stifel Nicolaus raised their target price on Meritor from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Barclays lifted their price objective on Meritor from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, February 1st. ValuEngine upgraded Meritor from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Piper Jaffray reiterated a “buy” rating and set a $35.00 price objective on shares of Meritor in a report on Wednesday, January 31st. Finally, Zacks Investment Research upgraded Meritor from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Wednesday, January 31st. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Meritor currently has a consensus rating of “Buy” and an average target price of $28.41.

Meritor opened at $22.01 on Friday, MarketBeat Ratings reports. Meritor, Inc. has a fifty-two week low of $21.49 and a fifty-two week high of $21.77. The company has a current ratio of 1.16, a quick ratio of 0.72 and a debt-to-equity ratio of 2.34. The stock has a market cap of $1.91 billion, a PE ratio of 11.71 and a beta of 2.55.

Meritor (NYSE:MTOR) last released its quarterly earnings data on Thursday, May 3rd. The auto parts company reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.10. Meritor had a return on equity of 115.74% and a net margin of 8.08%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $974.09 million. During the same quarter in the previous year, the business posted $0.35 EPS. Meritor’s revenue for the quarter was up 32.3% on a year-over-year basis. equities analysts expect that Meritor, Inc. will post 2.78 EPS for the current fiscal year.

Meritor Company Profile

Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors. It operates through two segments, Commercial Truck & Industrial; and Aftermarket & Trailer.

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Institutional Ownership by Quarter for Meritor (NYSE:MTOR)

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