Spartan Motors Inc (SPAR): Ariel Investments Lowers Its Stake

John W. Rogers Ariel Investments recently has filed an amended  13G with the US Securities and Exchange Commission, in which it reported holding 1.87 million shares of Spartan Motors Inc (NASDAQ:SPAR), which amass 5.4% of the outstanding stock. This indicates a decrease in the stake, as the fund previously held 2.29 million shares, according to its 13F filing for the end of June.

Spartan Motors is a company that manufactures and engineers specialty vehicles, truck bodies, and specialty chassis, running in three divisions: Specialty Chassis and Vehicles, Emergency Response Vehicles, and Delivery and Service Vehicles. Over the past 12 months, Spartan Motors’ stock has gained 122.06%. For the second quarter of 2016, the company disclosed adjusted earnings per shares of $0.19 and revenue of $162.5 million, topping both the consensus estimates of $0.08 in EPS 0n revenue of $152.77 million.

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Out of the 749 hedge funds that we follow which filed 13Fs for the second quarter, 13 were bullish on Spartan Motors (NASDAQ:SPAR), up by three from the previous quarter. Some of the investors who reported long positions in the company included Chuck Royce’s Royce & Associates, which held a position worth around $11.86, Jim Simons’ Renaissance Technologies with a position valued at $2.93 million, Mario Gabelli’s GAMCO Investors, and Peter Algert And Kevin Coldiron’s Algert Coldiron Investors.

Among new investors in Spartan Motors (NASDAQ:SPAR) during the quarter were Mark Coe’s Coe Capital Management, which initiated a position worth $250.40 million, Ken Griffin’s Citadel Investment Group, which had $470,000 invested in the company, Neil Chriss’ Hutchin Hill Capital, and  Gavin Saitowitz And Cisco J. Del Valle’s Springbok Capital.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Ariel Investments Ariel 1,869,537 34,431,043 5.4%

John W. Rogers
John W. Rogers
Ariel Investments

Page 1 of 1 – SEC Filing

Washington, DC 20549
Schedule 13G
Under the Securities Exchange Act of 1934
(Amendment No.3)*
Spartan Motors Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
(CUSIP Number)
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

[X] Rule 13d-1(b)
[_] Rule 13d-1(c)
[_] Rule 13d-1(d)

The remainder of this cover page shall be filled out for a reporting person’s
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be “filed” for the purpose of Section 18 of the Securities Exchange
Act of 1934 (“Act”) or otherwise subject to the liabilities of that Section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).

CUSIP No. 846819100
1. Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only).
Ariel Investments, LLC
# 02-0712418.
2. Check the Appropriate Box if a Member of a Group (See
Instructions) (a)[_]
Not Applicable
3. SEC Use Only
4. Citizenship or Place of Organization

Delaware Limited Liability Company

Number of
Shares Beneficially Owned By
Each Reporting Person With
5. Sole Voting Power

Ariel: 1,443,565
6. Shared Voting Power

Ariel: 0
7. Sole Dispositive Power

Ariel: 1,869,537
8. Shared Dispositive Power

Ariel: 0
9. Aggregate Amount Beneficially Owned by Each Reporting Person

Ariel: 1,869,537
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions) [_]

Not Applicable

11. Percent of Class Represented by Amount in Row (9)

Ariel: 1,869,537/34,431,043=5.4%
12. Type of Reporting Person (See

Ariel – IA
Item 1.
(a) Name of Issuer
(b) Address of Issuer’s Principal Executive Offices
Item 2.

(a) Name of Person Filing

Ariel Investments, LLC
(b) Address of Principal Business Office, or if none, Residence

200 E. Randolph Street, Suite 2900, Chicago, IL 60601
(c) Citizenship

a Delaware Limited Liability Company
(d) Title of Class of Securities

Common Stock
(e) CUSIP Number

Item 3. If this statement is filed pursuant to sections 240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:

(a) [_] Broker or dealer registered under section 15 of the Act (15
U.S.C. 78o).
(b) [_] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) [_] Insurance company as defined in section 3(a)(19) of the
Act(15 U.S.C. 78c).
(d) [_] Investment company registered under
section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) [X] An investment adviser in accordance with section
(f) [_] An employee benefit plan or endowment fund in accordance with
(g) [_] A parent holding company or control person in accordance with
(h) [_] A savings associations as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(i) [_] A church plan that is excluded from the definition of an investment
company under section 3(c)(14) of the Investment Company Act of 1940
(15 U.S.C. 80a-3);
(j) [_] Group, in accordance with section 240.13d-1(b)(1)(ii)(J).
Item 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
(See Page 1, No. 9)
(b) Percent of class:
(See Page 2, No. 11)
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
(See Page 1, No. 5)
(ii) Shared power to vote or to direct the vote
(See Page 1, No. 6)
(iii) Sole power to dispose or to direct the disposition of
(See Page 1, No. 7)
(iv) Shared power to dispose or to direct the disposition of
(See Page 1, No. 8)
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities check the following [_].
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Ariel Investments, LLC’s adviser clients have the right to receive
or the power to direct the receipt of dividends from, or the proceeds from the
sale of, all securities reported upon this Schedule. None of Ariel
Investments, LLC’s clients have an economic interest in more than 5% of the
subject securities reported upon this Schedule.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company.
Not Applicable
Item 8. Identification and Classification of Members of the Group.
Not Applicable
Item 9. Notice of Dissolution of Group.
Not Applicable
Item 10. Certifications.
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired and are held in the ordinary
course of business and were not acquired and are not held for the purpose
of or with the effect of changing or influencing the control of the issuer of
the securities and were not acquired and are not held in connection with or
as a participant in any transaction having that purpose or effect.

After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
Ariel Investments, LLC
By: /s/ Wendy D. Fox
Wendy D. Fox
Vice President/Chief Compliance Officer

The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is
signed on behalf of a person by his authorized representative other than an
executive officer or general partner of the filing person, evidence of the
representative’s authority to sign on behalf of such person shall be filed
with the statement, provided, however, that a power of attorney for this
purpose which is already on file with the Commission may be incorporated by
reference. The name and any title of each person who signs the statement
shall be typed or printed beneath his signature.
NOTE: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See section 240.13d-7
for other parties for whom copies are to be sent.
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)

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