Martinrea International Inc. (TSE:MRE – Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$10.18 and traded as high as C$10.29. Martinrea International shares last traded at C$10.11, with a volume of 29,915 shares changing hands.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on MRE shares. TD Securities increased their price objective on shares of Martinrea International from C$14.00 to C$15.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. BMO Capital Markets decreased their target price on Martinrea International from C$11.00 to C$10.50 and set a “market perform” rating for the company in a research report on Friday, March 6th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Martinrea International has an average rating of “Moderate Buy” and a consensus target price of C$12.83.
Check Out Our Latest Analysis on MRE
Martinrea International Trading Down 0.7%
Martinrea International (TSE:MRE – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported C$0.45 earnings per share (EPS) for the quarter. The business had revenue of C$1.13 billion during the quarter. Martinrea International had a net margin of 2.46% and a return on equity of 7.74%. Analysts anticipate that Martinrea International Inc. will post 2.4988962 earnings per share for the current fiscal year.
Martinrea International Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, March 31st. Martinrea International’s dividend payout ratio (DPR) is currently 12.35%.
Insider Activity
In other Martinrea International news, insider Peter Cirulis bought 5,275 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was bought at an average cost of C$10.41 per share, with a total value of C$54,912.75. Following the completion of the transaction, the insider directly owned 135,275 shares in the company, valued at approximately C$1,408,212.75. The trade was a 4.06% increase in their position. Also, insider Hany Morsy bought 4,400 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was acquired at an average price of C$10.56 per share, for a total transaction of C$46,464.00. Following the acquisition, the insider directly owned 9,000 shares in the company, valued at C$95,040. The trade was a 95.65% increase in their ownership of the stock. Insiders own 11.31% of the company’s stock.
About Martinrea International
Martinrea International Inc is a Canadian producer of steel and aluminium parts and fluid management systems. Its products are used primarily in the automotive sector by the majority of vehicle manufacturers. Martinrea manufactures aluminum engine blocks, specialized products, suspensions, chassis modules and components, and fluid management systems for fuel, power steering and brake fluids. The company also provides metal forming and welding solutions. The largest end market for Martinrea’s products is in North America.
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