Bowling Portfolio Management LLC Sells 12,561 Shares of Meritor Inc (MTOR)

Bowling Portfolio Management LLC lowered its holdings in Meritor Inc (NYSE:MTOR) by 12.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 87,113 shares of the auto parts company’s stock after selling 12,561 shares during the period. Bowling Portfolio Management LLC owned approximately 0.10% of Meritor worth $1,687,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Hawaiian Bank bought a new stake in Meritor in the 3rd quarter valued at about $273,000. United Services Automobile Association raised its position in shares of Meritor by 51.5% in the 2nd quarter. United Services Automobile Association now owns 269,868 shares of the auto parts company’s stock valued at $5,551,000 after buying an additional 91,708 shares in the last quarter. Northern Trust Corp raised its position in shares of Meritor by 6.9% in the 2nd quarter. Northern Trust Corp now owns 1,059,444 shares of the auto parts company’s stock valued at $21,793,000 after buying an additional 68,755 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Meritor by 28.4% in the 2nd quarter. Bank of Nova Scotia now owns 222,700 shares of the auto parts company’s stock valued at $4,581,000 after buying an additional 49,300 shares in the last quarter. Finally, Mutual Advisors LLC raised its position in shares of Meritor by 10.2% in the 2nd quarter. Mutual Advisors LLC now owns 54,200 shares of the auto parts company’s stock valued at $1,115,000 after buying an additional 5,000 shares in the last quarter. 90.85% of the stock is owned by hedge funds and other institutional investors.

MTOR stock opened at $16.82 on Friday. The company has a market cap of $1.53 billion, a P/E ratio of 9.20 and a beta of 2.43. Meritor Inc has a 1 year low of $16.74 and a 1 year high of $29.54. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 2.41.

Meritor (NYSE:MTOR) last released its quarterly earnings data on Wednesday, August 1st. The auto parts company reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.11. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Meritor had a net margin of 8.06% and a return on equity of 88.32%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. As a group, research analysts expect that Meritor Inc will post 2.96 earnings per share for the current fiscal year.

In other Meritor news, CEO Jeffrey A. Craig sold 34,678 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $21.84, for a total value of $757,367.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.32% of the stock is owned by corporate insiders.

MTOR has been the subject of several analyst reports. TheStreet upgraded shares of Meritor from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. ValuEngine cut shares of Meritor from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Piper Jaffray Companies reiterated a “buy” rating and set a $37.00 price objective on shares of Meritor in a research report on Wednesday, August 1st. Zacks Investment Research cut shares of Meritor from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 30th. Finally, Barclays upped their price objective on shares of Meritor from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Meritor presently has an average rating of “Buy” and an average target price of $29.67.

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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