Strs Ohio lowered its position in shares of Spartan Motors Inc (NASDAQ:SPAR) by 18.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,500 shares of the company’s stock after selling 9,600 shares during the quarter. Strs Ohio’s holdings in Spartan Motors were worth $612,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of Spartan Motors by 6.3% during the second quarter. BlackRock Inc. now owns 2,450,048 shares of the company’s stock valued at $36,996,000 after acquiring an additional 145,995 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Spartan Motors by 50.3% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 631,730 shares of the company’s stock valued at $9,539,000 after acquiring an additional 211,526 shares during the last quarter. Summit Creek Advisors LLC raised its holdings in shares of Spartan Motors by 88.9% during the second quarter. Summit Creek Advisors LLC now owns 600,677 shares of the company’s stock valued at $9,070,000 after acquiring an additional 282,723 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Spartan Motors by 23.9% during the second quarter. Russell Investments Group Ltd. now owns 578,994 shares of the company’s stock valued at $8,740,000 after acquiring an additional 111,735 shares during the last quarter. Finally, Cortina Asset Management LLC raised its holdings in shares of Spartan Motors by 18.3% during the second quarter. Cortina Asset Management LLC now owns 521,355 shares of the company’s stock valued at $7,872,000 after acquiring an additional 80,493 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.
In related news, insider Stephen K. Guillaume sold 4,144 shares of the stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $15.23, for a total value of $63,113.12. Following the completion of the sale, the insider now owns 63,429 shares of the company’s stock, valued at $966,023.67. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Paul Anthony Mascarenas purchased 15,000 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The stock was bought at an average cost of $7.35 per share, with a total value of $110,250.00. Following the acquisition, the director now owns 15,000 shares of the company’s stock, valued at approximately $110,250. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 60,000 shares of company stock valued at $439,200. Insiders own 4.22% of the company’s stock.
Spartan Motors (NASDAQ:SPAR) last posted its quarterly earnings results on Wednesday, October 31st. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.08). Spartan Motors had a net margin of 2.04% and a return on equity of 9.77%. The company had revenue of $226.18 million during the quarter, compared to analyst estimates of $227.27 million. During the same period in the prior year, the business posted $0.21 EPS. Spartan Motors’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Spartan Motors Inc will post 0.43 earnings per share for the current year.
The business also recently declared a Semi-Annual dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 14th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, November 13th. Spartan Motors’s dividend payout ratio is presently 23.26%.
A number of equities analysts have commented on the company. ValuEngine cut Spartan Motors from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Zacks Investment Research cut Spartan Motors from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. BidaskClub cut Spartan Motors from a “sell” rating to a “strong sell” rating in a report on Thursday, July 26th. Roth Capital reduced their target price on Spartan Motors from $20.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Finally, Craig Hallum set a $12.00 target price on Spartan Motors and gave the company a “buy” rating in a report on Wednesday, October 31st. Three analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $14.33.
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About Spartan Motors
Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, and sells heavy-duty and purpose-built specialty vehicles in the United States, Canada, South America, and Asia. It operates through three segments: Fleet Vehicles and Services, Emergency Response Vehicles, and Specialty Chassis and Vehicles.
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