Martinrea International Inc. (MRE) To Go Ex-Dividend on June 28th

Martinrea International Inc. (TSE:MRE) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders of record on Sunday, June 30th will be paid a dividend of 0.05 per share on Monday, July 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Friday, June 28th.

Martinrea International Stock Performance

Shares of MRE traded up C$0.59 on Friday, reaching C$11.94. 447,733 shares of the company’s stock traded hands, compared to its average volume of 210,652. The stock’s 50 day simple moving average is C$11.79 and its two-hundred day simple moving average is C$12.67. The stock has a market cap of C$932.99 million, a PE ratio of 6.19, a PEG ratio of 0.82 and a beta of 2.29. Martinrea International has a 52-week low of C$10.75 and a 52-week high of C$15.16. The company has a current ratio of 1.16, a quick ratio of 0.68 and a debt-to-equity ratio of 83.83.

Martinrea International (TSE:MRE) last announced its earnings results on Thursday, February 29th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.42 by C($0.05). The business had revenue of C$1.30 billion for the quarter, compared to analysts’ expectations of C$1.19 billion. Martinrea International had a net margin of 2.88% and a return on equity of 10.81%. On average, analysts forecast that Martinrea International will post 2.2301741 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Alfred Di Tosto bought 3,620 shares of Martinrea International stock in a transaction on Friday, March 15th. The stock was acquired at an average price of C$11.77 per share, with a total value of C$42,607.40. In other news, Senior Officer Alfred Di Tosto bought 3,620 shares of the stock in a transaction on Friday, March 15th. The shares were acquired at an average cost of C$11.77 per share, for a total transaction of C$42,607.40. Also, Senior Officer Alfredo Alonso purchased 7,490 shares of the business’s stock in a transaction on Monday, March 18th. The stock was purchased at an average cost of C$8.70 per share, with a total value of C$65,163.00. In the last quarter, insiders have purchased 38,353 shares of company stock valued at $348,645. Corporate insiders own 15.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MRE shares. TD Securities cut shares of Martinrea International from an “action list buy” rating to a “buy” rating and dropped their target price for the company from C$21.00 to C$19.00 in a research note on Friday, March 1st. Raymond James dropped their price objective on Martinrea International from C$20.00 to C$18.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. CIBC decreased their target price on Martinrea International from C$20.00 to C$18.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. Finally, Scotiabank lowered their target price on Martinrea International from C$15.00 to C$14.50 in a research note on Friday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$18.14.

About Martinrea International

Martinrea International Inc engages in the design, development, and manufacturing of engineered, value-added lightweight structures and propulsion systems worldwide. It offers lightweight structure products, including knuckles/control arms/links; subframes integral/fabricated products; complex assemblies; body structures; exterior trims; and trailer hitches.