Martinrea International (MRE) Reaches New 12-Month Low at $17.05

Shares of Martinrea International Inc. (TSE:MRE) hit a new 52-week low during trading on Tuesday . The company traded as low as C$17.05 and last traded at C$17.17, with a volume of 51511 shares traded. The stock had previously closed at C$17.19.

A number of analysts have recently commented on MRE shares. 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. CIBC upped their price objective on Martinrea International from C$15.00 to C$17.00 in a research report on Monday, March 5th. BMO Capital Markets upped their price objective on Martinrea International from C$14.50 to C$18.00 and gave the company an “outperform” rating in a research report on Monday, March 5th. TD Securities upped their price objective on Martinrea International from C$17.00 to C$18.50 and gave the company a “buy” rating in a research report on Monday, March 5th. Finally, Scotiabank upped their price objective on Martinrea International from C$18.00 to C$19.00 and gave the company a “sector perform” rating in a research report on Monday, March 5th.

Martinrea International (TSE:MRE) last released its quarterly earnings data on Thursday, March 1st. The company reported C$0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.47 by C$0.03. The business had revenue of C$878.64 million for the quarter, compared to analysts’ expectations of C$861.60 million. Martinrea International had a return on equity of 13.91% and a net margin of 3.68%.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 15th. Investors of record on Saturday, March 31st were given a $0.03 dividend. The ex-dividend date was Wednesday, March 28th. This represents a $0.12 annualized dividend and a yield of 0.70%.

In related news, insider Amurrio Juan Jose Nardiz bought 6,645 shares of the firm’s stock in a transaction on Tuesday, March 27th. The stock was acquired at an average cost of C$15.19 per share, for a total transaction of C$100,937.55. Also, Director Frank Patrick D’eramo bought 2,800 shares of the firm’s stock in a transaction on Wednesday, March 28th. The shares were bought at an average price of C$15.10 per share, with a total value of C$42,280.00. Insiders purchased a total of 15,745 shares of company stock worth $248,994 over the last ninety days.

About Martinrea International

Martinrea International Inc designs, engineers, manufactures, and sells metal parts, assemblies and modules, fluid management systems, and aluminum products primarily to the automotive industry in North America, Europe, and internationally. The company offers aluminum products, including engine blocks, oil pans, cam carriers, camshaft and transmission housings, sub frames, knuckles, control arms, longitudinal and cross members, shock towers, components for electric vehicles, fabrication and modules, and aluminum plates and coils.

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