Peregrine Capital Management LLC Cuts Holdings in Meritor Inc (MTOR)

Peregrine Capital Management LLC cut its stake in Meritor Inc (NYSE:MTOR) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 397,576 shares of the auto parts company’s stock after selling 1,535 shares during the quarter. Peregrine Capital Management LLC’s holdings in Meritor were worth $8,091,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in Meritor by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,718,601 shares of the auto parts company’s stock valued at $62,881,000 after purchasing an additional 42,995 shares during the period. Royce & Associates LP raised its position in Meritor by 31.0% in the fourth quarter. Royce & Associates LP now owns 3,002,859 shares of the auto parts company’s stock valued at $50,778,000 after purchasing an additional 711,396 shares during the period. Towle & Co. raised its position in Meritor by 38.8% in the fourth quarter. Towle & Co. now owns 2,327,558 shares of the auto parts company’s stock valued at $39,359,000 after purchasing an additional 651,055 shares during the period. Frontier Capital Management Co. LLC raised its position in Meritor by 51.4% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,281,353 shares of the auto parts company’s stock valued at $38,578,000 after purchasing an additional 774,580 shares during the period. Finally, Morgan Stanley raised its position in Meritor by 9.6% in the third quarter. Morgan Stanley now owns 2,224,907 shares of the auto parts company’s stock valued at $43,074,000 after purchasing an additional 194,686 shares during the period. 93.17% of the stock is currently owned by institutional investors.

Shares of Meritor stock opened at $23.61 on Monday. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.08 and a quick ratio of 0.62. The stock has a market cap of $1.94 billion, a PE ratio of 7.79 and a beta of 2.10. Meritor Inc has a 1-year low of $15.01 and a 1-year high of $23.72.



Meritor (NYSE:MTOR) last announced its earnings results on Tuesday, January 29th. The auto parts company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.19. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $967.98 million. Meritor had a return on equity of 89.57% and a net margin of 5.63%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the firm earned $0.62 earnings per share. On average, analysts predict that Meritor Inc will post 3.36 EPS for the current fiscal year.

MTOR has been the topic of several research reports. ValuEngine raised Meritor from a “strong sell” rating to a “sell” rating in a research report on Monday, December 17th. Barclays reissued a “hold” rating and issued a $19.00 price objective on shares of Meritor in a research report on Sunday, January 6th. Finally, Royal Bank of Canada lowered Meritor from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $18.00 to $19.00 in a research report on Wednesday, January 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.00.

In other news, SVP Joseph A. Plomin sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $20.63, for a total transaction of $206,300.00. Following the completion of the sale, the senior vice president now directly owns 111,144 shares in the company, valued at $2,292,900.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Chris Villavarayan sold 34,246 shares of the firm’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $21.31, for a total value of $729,782.26. The disclosure for this sale can be found here. Insiders have sold 82,334 shares of company stock valued at $1,772,790 over the last 90 days. Insiders own 2.80% of the company’s stock.

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About Meritor

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 & Trailer; and Aftermarket & Industrial.

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Institutional Ownership by Quarter for Meritor (NYSE:MTOR)

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