Martinrea International (TSE:MRE) Hits New 1-Year High – Still a Buy?

Martinrea International Inc. (TSE:MRE)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as C$11.67 and last traded at C$11.63, with a volume of 20550 shares changing hands. The stock had previously closed at C$10.88.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MRE shares. TD Securities lifted their price objective on Martinrea International from C$14.00 to C$15.00 and gave the stock a “buy” rating in a report on Friday, March 6th. BMO Capital Markets reduced their price objective on Martinrea International from C$11.00 to C$10.50 and set a “market perform” rating for the company in a report on Friday, March 6th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Martinrea International presently has a consensus rating of “Moderate Buy” and an average target price of C$12.83.

Martinrea International Price Performance

The firm has a fifty day moving average of C$9.73 and a 200 day moving average of C$10.09. The company has a market capitalization of C$808.19 million, a P/E ratio of 7.04, a P/E/G ratio of 0.82 and a beta of 1.93. The company has a current ratio of 1.27, a quick ratio of 0.68 and a debt-to-equity ratio of 77.11.

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

Martinrea International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 15th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, March 31st. Martinrea International’s dividend payout ratio (DPR) is presently 12.35%.

Insider Activity

In other news, insider Peter Cirulis bought 5,275 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were acquired at an average cost of C$10.41 per share, with a total value of C$54,912.75. Following the completion of the transaction, the insider owned 135,275 shares of the company’s stock, valued at approximately C$1,408,212.75. This trade represents a 4.06% increase in their position. Also, insider Francesco Barbara bought 12,333 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was purchased at an average cost of C$8.95 per share, for a total transaction of C$110,380.35. Following the completion of the transaction, the insider directly owned 54,119 shares of the company’s stock, valued at approximately C$484,365.05. The trade was a 29.51% increase in their position. Insiders acquired 18,704 shares of company stock worth $175,320 over the last three months. Insiders own 11.31% of the company’s stock.

About Martinrea International

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.