Martinrea International (TSE:MRE) Reaches New 12-Month High – Here’s What Happened

Shares of Martinrea International Inc. (TSE:MRE) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$11.70 and last traded at C$11.47, with a volume of 62207 shares changing hands. The stock had previously closed at C$11.49.

Analyst Ratings Changes

MRE has been the topic of several analyst reports. TD Securities lifted their price target on shares of Martinrea International from C$14.00 to C$15.00 and gave the company a “buy” rating in a research report on Friday, March 6th. BMO Capital Markets reduced their price target on shares of Martinrea International from C$11.00 to C$10.50 and set a “market perform” rating on the stock in a research report on Friday, March 6th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$12.83.

Martinrea International Price Performance

The company has a current ratio of 1.27, a quick ratio of 0.68 and a debt-to-equity ratio of 77.11. The company’s fifty day moving average is C$10.05 and its two-hundred day moving average is C$10.15. The stock has a market cap of C$815.99 million, a price-to-earnings ratio of 7.10, a P/E/G ratio of 0.82 and a beta of 1.93.

Martinrea International (TSE:MRE) last posted its earnings results on Thursday, April 30th. The company reported C$0.45 earnings per share for the quarter. Martinrea International had a net margin of 2.46% and a return on equity of 7.74%. The firm had revenue of C$1.13 billion during the quarter. As a group, research analysts predict that Martinrea International Inc. will post 2.4988962 earnings per share for the current year.

Martinrea International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, March 31st. Martinrea International’s dividend payout ratio (DPR) is 12.35%.

Insider Activity at Martinrea International

In related news, insider Peter Cirulis bought 5,275 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average price of C$10.41 per share, for a total transaction of C$54,912.75. Following the acquisition, the insider owned 135,275 shares of the company’s stock, valued at approximately C$1,408,212.75. This trade represents a 4.06% increase in their ownership of the stock. Also, insider Francesco Barbara bought 12,333 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was bought at an average price of C$8.95 per share, with a total value of C$110,380.35. Following the acquisition, the insider directly owned 54,119 shares in the company, valued at C$484,365.05. The trade was a 29.51% increase in their position. Insiders purchased a total of 18,704 shares of company stock valued at $175,320 in the last quarter. 11.31% of the stock is owned by insiders.

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.