Metaldyne Performance Group Inc. (mpg) To Go Ex-Dividend on November 16th
Metaldyne Performance Group Inc. (NYSE:mpg) announced a quarterly dividend on Friday, November 4th. Stockholders of record on Friday, November 18th will be given a dividend of 0.093 per share on Friday, December 9th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Wednesday, November 16th.
Shares of Metaldyne Performance Group (NYSE:MPG) opened at 19.30 on Friday. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 13.46 and a beta of 1.74. The stock has a 50 day moving average price of $16.32 and a 200-day moving average price of $15.82. Metaldyne Performance Group has a 1-year low of $10.87 and a 1-year high of $22.70.
Metaldyne Performance Group (NYSE:MPG) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.33 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.33. The business had revenue of $676 million for the quarter, compared to analysts’ expectations of $690.91 million. Metaldyne Performance Group had a return on equity of 17.24% and a net margin of 3.49%. The business’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. Equities research analysts forecast that Metaldyne Performance Group will post $1.66 earnings per share for the current year.
A number of equities research analysts have commented on the company. Barclays PLC reissued a “hold” rating and set a $14.00 price target on shares of Metaldyne Performance Group in a report on Tuesday. Zacks Investment Research cut Metaldyne Performance Group from a “hold” rating to a “sell” rating in a report on Thursday, October 27th. Finally, Deutsche Bank AG decreased their price target on Metaldyne Performance Group from $22.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Metaldyne Performance Group has a consensus rating of “Hold” and an average price target of C$15.17.
Several hedge funds and other institutional investors have recently modified their holdings of MPG. AQR Capital Management LLC raised its position in Metaldyne Performance Group by 44.4% in the second quarter. AQR Capital Management LLC now owns 43,567 shares of the company’s stock valued at $599,000 after buying an additional 13,397 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in Metaldyne Performance Group by 2.4% in the second quarter. Parametric Portfolio Associates LLC now owns 22,919 shares of the company’s stock valued at $315,000 after buying an additional 538 shares in the last quarter. KCG Holdings Inc. bought a new position in Metaldyne Performance Group during the second quarter valued at approximately $172,000. Levin Capital Strategies L.P. raised its position in Metaldyne Performance Group by 14.3% in the second quarter. Levin Capital Strategies L.P. now owns 3,155,225 shares of the company’s stock valued at $43,384,000 after buying an additional 395,586 shares in the last quarter. Finally, State Street Corp raised its position in Metaldyne Performance Group by 25.5% in the second quarter. State Street Corp now owns 261,890 shares of the company’s stock valued at $3,604,000 after buying an additional 53,231 shares in the last quarter. Hedge funds and other institutional investors own 18.62% of the company’s stock.
About Metaldyne Performance Group
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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