BlueMountain Capital Management LLC Trims Stake in Meritor Inc (MTOR)

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BlueMountain Capital Management LLC reduced its stake in shares of Meritor Inc (NYSE:MTOR) by 63.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,067 shares of the auto parts company’s stock after selling 35,563 shares during the quarter. BlueMountain Capital Management LLC’s holdings in Meritor were worth $413,000 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 MTOR. Millennium Management LLC boosted its holdings in shares of Meritor by 38.3% in the first quarter. Millennium Management LLC now owns 2,119,759 shares of the auto parts company’s stock valued at $43,582,000 after acquiring an additional 587,065 shares in the last quarter. Royce & Associates LP boosted its holdings in Meritor by 44.4% during the second quarter. Royce & Associates LP now owns 1,796,009 shares of the auto parts company’s stock worth $36,944,000 after buying an additional 551,936 shares in the last quarter. Matarin Capital Management LLC purchased a new stake in Meritor during the first quarter worth about $10,293,000. Towle & Co. boosted its holdings in Meritor by 33.2% during the second quarter. Towle & Co. now owns 1,642,583 shares of the auto parts company’s stock worth $33,788,000 after buying an additional 409,658 shares in the last quarter. Finally, Elk Creek Partners LLC purchased a new stake in Meritor during the first quarter worth about $8,224,000. Institutional investors own 90.55% of the company’s stock.

A number of analysts recently commented on MTOR shares. Piper Jaffray Companies set a $37.00 price objective on shares of Meritor and gave the stock a “buy” rating in a report on Friday, September 14th. Zacks Investment Research downgraded shares of Meritor from a “strong-buy” rating to a “hold” rating in a report on Monday, July 30th. ValuEngine upgraded shares of Meritor from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Barclays lifted their target price 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. Finally, TheStreet upgraded shares of Meritor from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Meritor has an average rating of “Hold” and an average target price of $29.57.

In other Meritor news, CEO Jeffrey A. Craig sold 34,678 shares of the stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $21.84, for a total transaction of $757,367.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.32% of the company’s stock.

MTOR traded down $0.63 during trading on Friday, hitting $17.52. 1,052,755 shares of the company’s stock were exchanged, compared to its average volume of 988,876. 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 Inc has a 1 year low of $17.28 and a 1 year high of $29.54. The company has a market cap of $1.67 billion, a P/E ratio of 9.32 and a beta of 2.44.

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

Meritor 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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