Martinrea International (TSE:MRE) Hits New 1-Year 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$11.67 and last traded at C$11.63, with a volume of 20550 shares trading hands. The stock had previously closed at C$10.88.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. TD Securities upped their target price on Martinrea International from C$14.00 to C$15.00 and gave the company a “buy” rating in a report on Friday, March 6th. BMO Capital Markets decreased 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 investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$12.83.

Martinrea International Stock Performance

The business has a fifty day simple moving average of C$9.73 and a 200-day simple moving average of C$10.09. 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 firm has a market cap 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.

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

Martinrea International Announces Dividend

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

Insider Buying and Selling at Martinrea International

In related news, insider Peter Cirulis purchased 5,275 shares of Martinrea International stock in a transaction dated Tuesday, May 5th. The stock was purchased at an average cost of C$10.41 per share, for a total transaction of C$54,912.75. Following the completion of the acquisition, the insider directly owned 135,275 shares of the company’s stock, valued at C$1,408,212.75. The trade was a 4.06% increase in their ownership of the stock. Also, insider Francesco Barbara purchased 12,333 shares of Martinrea International stock in a transaction dated Thursday, March 19th. The shares were bought at an average price of C$8.95 per share, with a total value of C$110,380.35. Following the completion of the acquisition, the insider directly owned 54,119 shares of the company’s stock, valued at approximately C$484,365.05. This represents a 29.51% increase in their ownership of the stock. Insiders have bought 18,704 shares of company stock valued at $175,320 over the last 90 days. Corporate insiders own 11.31% of the company’s stock.

Martinrea International Company Profile

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.