Martinrea International (TSE:MRE) Sets New 12-Month High – Still a Buy?

Martinrea International Inc. (TSE:MRE)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as C$11.70 and last traded at C$11.47, with a volume of 62207 shares. The stock had previously closed at C$11.49.

Wall Street Analyst Weigh In

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

Martinrea International Stock Performance

The stock has a market cap of C$813.15 million, a P/E ratio of 7.08, a price-to-earnings-growth ratio of 0.82 and a beta of 1.93. The company has a quick ratio of 0.68, a current ratio of 1.27 and a debt-to-equity ratio of 77.11. The business has a 50 day moving average price of C$9.94 and a two-hundred day moving average price of C$10.13.

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

Martinrea International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.7%. Martinrea International’s dividend payout ratio is 12.35%.

Insider Transactions at Martinrea International

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