Wells Fargo & Company MN increased its position in shares of Spartan Motors, Inc. (NASDAQ:SPAR) by 202.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,435 shares of the company’s stock after buying an additional 44,453 shares during the period. Wells Fargo & Company MN owned 0.19% of Spartan Motors worth $531,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Tudor Investment Corp Et Al increased its stake in Spartan Motors by 1.5% in the fourth quarter. Tudor Investment Corp Et Al now owns 12,226 shares of the company’s stock worth $113,000 after buying an additional 183 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in Spartan Motors during the fourth quarter worth $246,000. Allianz Asset Management AG increased its stake in Spartan Motors by 18.7% in the fourth quarter. Allianz Asset Management AG now owns 43,645 shares of the company’s stock worth $404,000 after buying an additional 6,880 shares during the last quarter. Mesirow Financial Investment Management Equity Management bought a new stake in Spartan Motors during the first quarter worth $374,000. Finally, New Jersey Better Educational Savings Trust bought a new stake in Spartan Motors during the first quarter worth $400,000. Institutional investors own 65.77% of the company’s stock.
Shares of Spartan Motors, Inc. (SPAR) opened at 8.80 on Wednesday. The stock has a 50 day moving average of $8.66 and a 200-day moving average of $8.30. The firm has a market capitalization of $309.12 million, a P/E ratio of 43.78 and a beta of 1.11. Spartan Motors, Inc. has a 1-year low of $6.30 and a 1-year high of $10.50.
Spartan Motors (NASDAQ:SPAR) last posted its quarterly earnings data on Thursday, May 4th. The company reported $0.04 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.04. Spartan Motors had a net margin of 1.12% and a return on equity of 8.19%. The company had revenue of $167 million for the quarter, compared to analysts’ expectations of $149.90 million. During the same period in the prior year, the business earned $0.02 earnings per share. Spartan Motors’s revenue for the quarter was up 24.9% compared to the same quarter last year. On average, equities analysts expect that Spartan Motors, Inc. will post $0.40 earnings per share for the current year.
The firm also recently declared a semiannual dividend, which was paid on Thursday, June 15th. Shareholders of record on Monday, May 15th were given a dividend of $0.05 per share. This represents a yield of 1.12%. The ex-dividend date of this dividend was Thursday, May 11th. Spartan Motors’s payout ratio is currently 47.62%.
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A number of research firms have recently weighed in on SPAR. Zacks Investment Research downgraded shares of Spartan Motors from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Seaport Global Securities restated a “buy” rating and issued a $10.00 price target on shares of Spartan Motors in a research note on Thursday, April 6th. Finally, TheStreet upgraded shares of Spartan Motors from a “c” rating to a “b-” rating in a research note on Monday, May 15th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $10.58.
In related news, CFO Frederick J. Sohm acquired 5,000 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was purchased at an average price of $8.94 per share, with a total value of $44,700.00. Following the completion of the purchase, the chief financial officer now owns 157,327 shares in the company, valued at approximately $1,406,503.38. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard R. Current acquired 5,141 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were bought at an average cost of $9.00 per share, with a total value of $46,269.00. Following the purchase, the director now owns 90,000 shares of the company’s stock, valued at approximately $810,000. The disclosure for this purchase can be found here. 3.72% of the stock is owned by company insiders.
About Spartan Motors
Spartan Motors, Inc is an engineer and manufacturer in the heavy-duty, custom vehicles marketplace. The Company operates through three segments: Emergency Response Vehicles, Delivery and Service Vehicles, and Specialty Chassis and Vehicles. The Company’s Emergency Response Vehicles segment engineers and manufactures emergency response chassis, emergency response bodies and aerial equipment.
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