Martinrea International (MRE) Trading Down 6%

Shares of Martinrea International Inc (TSE:MRE) fell 6% on Monday . The company traded as low as C$14.20 and last traded at C$14.43. 263,539 shares were traded during mid-day trading, an increase of 48% from the average session volume of 178,662 shares. The stock had previously closed at C$15.35.

A number of brokerages have weighed in on MRE. Royal Bank of Canada boosted their price target on Martinrea International from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 17th. TD Securities lifted their price objective on Martinrea International from C$15.00 to C$17.00 in a research note on Thursday, November 16th. BMO Capital Markets lifted their price objective on Martinrea International from C$14.00 to C$14.50 in a research note on Thursday, November 16th. CIBC lifted their price objective on Martinrea International from C$11.50 to C$15.00 in a research note on Thursday, November 16th. Finally, Scotiabank lifted their price objective on Martinrea International from C$15.50 to C$16.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 16th.

The firm has a market capitalization of $1,330.00, a P/E ratio of 8.39 and a beta of 1.15.

Martinrea International (TSE:MRE) last posted its quarterly earnings data on Tuesday, November 14th. The company reported C$0.42 EPS for the quarter, topping analysts’ consensus estimates of C$0.41 by C$0.01. Martinrea International had a return on equity of 16.07% and a net margin of 4.30%.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Sunday, December 31st were paid a $0.03 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.82%. Martinrea International’s payout ratio is presently 6.56%.

In other news, insider Andre Larosa purchased 6,556 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were purchased at an average cost of C$15.25 per share, for a total transaction of C$99,979.00. Also, insider Amurrio Juan Jose Nardiz purchased 12,850 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were purchased at an average price of C$15.29 per share, for a total transaction of C$196,476.50. Insiders bought 27,751 shares of company stock worth $420,502 over the last quarter.

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About Martinrea International

Martinrea International Inc is a Canada-based company engaged in the development and production of metal parts, assemblies and modules, fluid management systems and complex aluminum products focused primarily on the automotive sector. The Company’s segments are North America, Europe and Rest of the World.

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