Linamar Co. (LNR) to Issue Quarterly Dividend of $0.12
Linamar Co. (TSE:LNR) announced a quarterly dividend on Tuesday, November 7th, Zacks reports. Shareholders of record on Friday, November 24th will be given a dividend of 0.121 per share on Friday, December 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Wednesday, November 22nd. This is a boost from Linamar’s previous quarterly dividend of $0.12.
Shares of Linamar (TSE LNR) opened at C$66.78 on Friday. Linamar has a 52 week low of C$48.25 and a 52 week high of C$80.58.
In other news, insider Csaba Havasi sold 2,250 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of C$66.27, for a total value of C$149,107.50. Also, insider Kenneth Mcdougall sold 2,500 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of C$78.74, for a total value of C$196,850.00. Insiders have sold 9,501 shares of company stock worth $665,008 in the last three months.
LNR has been the subject of several recent analyst reports. BMO Capital Markets raised their price target on Linamar from C$70.00 to C$80.00 and gave the stock a “market perform” rating in a report on Monday, October 23rd. CIBC raised their price target on Linamar from C$69.00 to C$81.00 in a report on Thursday, September 28th. TD Securities lowered their price target on Linamar from C$73.00 to C$72.00 and set a “hold” rating for the company in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada lifted their target price on Linamar from C$71.00 to C$74.00 and gave the stock a “sector perform” rating in a report on Thursday, August 3rd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of C$81.60.
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Linamar Company Profile
Linamar Corporation is a Canada-based diversified manufacturing company of engineered products powering vehicles, motion, work and lives. The Company operates through two segments: the Powertrain/Driveline and the Industrial. The segments are divided into four operating groups: Machining & Assembly, Light Metal Casting, Forging and Skyjack.
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