Martinrea International (TSE:MRE) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Martinrea International Inc. (TSE:MRE) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$10.17 and traded as high as C$10.18. Martinrea International shares last traded at C$10.03, with a volume of 36,264 shares traded.

Martinrea International Trading Down 0.9%

The stock has a market cap of C$711.07 million, a P/E ratio of 6.19, a price-to-earnings-growth ratio of 0.82 and a beta of 1.83. The stock’s 50-day moving average is C$10.53 and its two-hundred day moving average is C$10.17. The company has a debt-to-equity ratio of 77.11, a current ratio of 1.27 and a quick ratio of 0.68.

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

Insider Activity

In other news, insider Peter Cirulis purchased 5,275 shares of the company’s stock in a transaction that occurred on 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 purchase, the insider owned 135,275 shares in the company, valued at approximately C$1,408,212.75. This represents a 4.06% increase in their ownership of the stock. Also, insider Hany Morsy purchased 4,400 shares of the business’s stock in a transaction on Monday, June 15th. The shares were purchased at an average price of C$10.56 per share, with a total value of C$46,464.00. Following the acquisition, the insider directly owned 9,000 shares in the company, valued at C$95,040. This represents a 95.65% increase in their ownership of the stock. Insiders own 11.31% of the company’s stock.

Martinrea International Company Profile

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.