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)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Top Reasons For Getting Fired

The 3 Best States to Start an LLC

10 Jobs That Allow You to Travel

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

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!