State Board of Administration of Florida Retirement System maintained its position in shares of Meritor Inc. (NYSE:MTOR) during the second quarter, Holdings Channel reports. The institutional investor owned 77,115 shares of the company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned about 0.08% of Meritor worth $555,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in MTOR. Springbok Capital Management LLC boosted its position in shares of Meritor by 8.7% in the first quarter. Springbok Capital Management LLC now owns 12,500 shares of the company’s stock worth $101,000 after buying an additional 1,000 shares during the last quarter. Quantitative Systematic Strategies LLC boosted its position in shares of Meritor by 39.2% in the second quarter. Quantitative Systematic Strategies LLC now owns 26,396 shares of the company’s stock worth $185,000 after buying an additional 7,438 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of Meritor by 8.4% in the second quarter. California Public Employees Retirement System now owns 214,600 shares of the company’s stock worth $1,545,000 after buying an additional 16,600 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp purchased a new position in shares of Meritor during the second quarter worth approximately $122,000. Finally, HBK Investments L P purchased a new position in shares of Meritor during the first quarter worth approximately $136,000. Institutional investors own 90.92% of the company’s stock.
Meritor Inc. (NYSE:MTOR) traded up 3.488% on Wednesday, hitting $11.125. The stock had a trading volume of 197,160 shares. The company has a market cap of $965.24 million, a P/E ratio of 13.501 and a beta of 2.53. Meritor Inc. has a 52-week low of $5.69 and a 52-week high of $12.00. The stock’s 50-day moving average is $10.88 and its 200-day moving average is $8.94.
Meritor (NYSE:MTOR) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. The firm earned $841 million during the quarter, compared to analyst estimates of $841.79 million. Meritor had a net margin of 2.35% and a negative return on equity of 25.32%. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 EPS. Analysts expect that Meritor Inc. will post $1.60 earnings per share for the current year.
A number of brokerages have recently commented on MTOR. Zacks Investment Research upgraded Meritor from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Piper Jaffray Cos. lowered Meritor from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $6.50 to $6.00 in a research report on Tuesday, June 28th. Citigroup Inc. raised their target price on Meritor from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, August 8th. Finally, Longbow Research set a $14.00 target price on Meritor and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $9.20.
Meritor, Inc is engaged in the development, manufacture, sale, assembly, distribution, import and export of movement control systems for buses, trailers and trucks and their parts and components. It serves commercial truck, trailer, bus and coach and off-highway machinery manufacturers. The Company’s segments include commercial truck and industrial, and aftermarket and trailer.