Metaldyne Performance Group Inc. (NYSE:MPG) Receives Average Rating of “Hold” from Brokerages
Metaldyne Performance Group Inc. (NYSE:MPG) has been assigned a consensus rating of “Hold” from the ten brokerages that are covering the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$18.50.
A number of equities research analysts have issued reports on MPG shares. Zacks Investment Research upgraded Metaldyne Performance Group from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a research note on Tuesday, June 21st. Bank of America Corp. cut Metaldyne Performance Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 21st. Royal Bank Of Canada cut Metaldyne Performance Group from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $18.00 to $14.00 in a research note on Wednesday, June 29th. They noted that the move was a valuation call. KeyCorp reiterated a “buy” rating on shares of Metaldyne Performance Group in a research note on Sunday, July 3rd. Finally, Deutsche Bank AG cut their target price on Metaldyne Performance Group from $22.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, August 5th.
Shares of Metaldyne Performance Group (NYSE:MPG) traded up 0.25% during midday trading on Tuesday, reaching $15.88. 55,410 shares of the company were exchanged. Metaldyne Performance Group has a 52-week low of $10.87 and a 52-week high of $24.62. The company has a market capitalization of $1.07 billion, a PE ratio of 10.15 and a beta of 1.75. The firm’s 50 day moving average is $15.89 and its 200-day moving average is $15.68.
Metaldyne Performance Group (NYSE:MPG) last posted its earnings results on Thursday, August 4th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by $0.09. The company earned $728 million during the quarter, compared to the consensus estimate of $756.60 million. Metaldyne Performance Group had a net margin of 3.71% and a return on equity of 18.57%. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 earnings per share. On average, equities analysts forecast that Metaldyne Performance Group will post $1.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Tuesday, September 6th were issued a dividend of $0.0925 per share. This represents a $0.37 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, September 1st. Metaldyne Performance Group’s payout ratio is currently 23.57%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. raised its position in Metaldyne Performance Group by 29.1% in the second quarter. American International Group Inc. now owns 8,655 shares of the company’s stock worth $119,000 after buying an additional 1,950 shares during the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in Metaldyne Performance Group during the second quarter worth about $126,000. Alliancebernstein L.P. purchased a new position in Metaldyne Performance Group during the second quarter worth about $158,000. KCG Holdings Inc. purchased a new position in Metaldyne Performance Group during the second quarter worth about $172,000. Finally, Rhumbline Advisers raised its position in Metaldyne Performance Group by 3.8% in the second quarter. Rhumbline Advisers now owns 13,003 shares of the company’s stock worth $179,000 after buying an additional 474 shares during the last quarter. 18.55% of the stock is currently owned by hedge funds and other institutional investors.
Metaldyne Performance Group Company Profile
Metaldyne Performance Group Inc provides components for use in engine, transmission and driveline (Powertrain) and chassis, suspension, steering and brake component (Safety-Critical) Platforms for the global light, commercial and industrial vehicle markets. The Company produces these components using complex metal-forming manufacturing technologies and processes for a customer base of vehicle original equipment manufacturers (OEMs) and Tier I suppliers.
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