Sandell Asset Management Boosts Passive Stake in Meritor Inc (MTOR)

Managed by Tom SandellSandell Asset Management considerably increased its stake in Meritor Inc (NYSE:MTOR). The fund currently owns 5.20% of the company’s common stock, with a position of more than 5.03 million shares. Previously, Sandell’s exposure to Meritor amounted to almost 1.40 million shares outstanding.

Thomas Sandell

Headquartered in Troy, Michigan, Meritor Inc (NYSE:MTOR) is the world’s largest independent manufacturer of commercial vehicle axles. Two months ago, the company announced that, in tandem with SmartDrive Systems, Inc., it is developing a comprehensive and efficient performance management system to help fleets improve safety and operational efficiency. In 2013, the company reported net losses of $20.00 million or $0.22 per share, compared to net earnings of $70.00 million or $0.54 per share a year earlier.  In the first quarter of 2014 the manufacturer generated earnings of $0.12 per share, exceeding market expectations by almost 70%. Meritor’s stock price doubled in the past 12 months to a current price of above $11.00 per share, the company trading at an Enterprise Value to EBITDA ratio of 8.61. Analysts are positive about the prospects of the company, strongly recommending that investors buy its shares.

Other funds holding large positions in Meritor Inc (NYSE:MTOR) include Larry Robbins‘ Glenview Capital, which holds 9.74 million shares and Marc Lasry‘s Avenue Capital, which owns almost 7.35 million shares as of the end of 2013.

Two months ago, Sandell Asset Management increased its stake in Bob Evans Farms Inc (NASDAQ:BOBE) to slightly more than 2.00 million shares. An earlier filing shows that, previously, Sandell held around 1.15 million shares of Bob Evans. The fund also holds 4.82 million shares in Compuware Corporation (NASDAQ:CPWR) and almost 480,000 shares in Life Technologies Corp (NASDAQ:LIFE).

Disclosure: none

Recommended reading:

Sandell Asset Management Presentation on Bob Evans Farms Inc (BOBE): Sets a $90 Target Price

Lone Pine Capital Reports Holding Almost 6% of Equinix Inc (EQIX)

Sandell Asset Management Files Complaint Against Bob Evans Farms Inc (BOBE)

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!