Martinrea International Inc. (TSE:MRE) Announces Quarterly Dividend of $0.05

Martinrea International Inc. (TSE:MRE) announced a quarterly dividend on Thursday, February 29th, Zacks reports. Shareholders of record on Sunday, March 31st will be paid a dividend of 0.05 per share on Monday, April 15th. This represents a $0.20 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Wednesday, March 27th.

Martinrea International Stock Performance

Martinrea International stock opened at C$12.04 on Tuesday. The stock has a 50 day moving average of C$13.21 and a 200-day moving average of C$12.90. Martinrea International has a 52 week low of C$11.10 and a 52 week high of C$15.16. The stock has a market cap of C$940.81 million, a P/E ratio of 6.24, a price-to-earnings-growth ratio of 0.82 and a beta of 2.29. The company has a current ratio of 1.16, a quick ratio of 0.68 and a debt-to-equity ratio of 83.83.

Martinrea International (TSE:MRE) last released its quarterly earnings results on Thursday, February 29th. The company reported C$0.37 EPS for the quarter, missing the consensus estimate of C$0.42 by C($0.05). The firm had revenue of C$1.30 billion for the quarter, compared to the consensus estimate of C$1.19 billion. Martinrea International had a return on equity of 10.81% and a net margin of 2.88%. On average, analysts expect that Martinrea International will post 2.2298851 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on MRE. Raymond James cut their price objective on Martinrea International from C$20.00 to C$18.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. TD Securities cut Martinrea International from an “action list buy” rating to a “buy” rating and decreased their target price for the stock from C$21.00 to C$19.00 in a research report on Friday, March 1st. Scotiabank cut Martinrea International from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$18.50 to C$15.00 in a research report on Friday, March 1st. Paradigm Capital dropped their price objective on Martinrea International from C$24.00 to C$21.50 and set a “buy” rating for the company in a research note on Monday, November 27th. Finally, CIBC lowered their target price on Martinrea International from C$20.00 to C$18.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Martinrea International presently has an average rating of “Moderate Buy” and an average price target of C$18.21.

Insiders Place Their Bets

In other Martinrea International news, Senior Officer Alfredo Alonso bought 7,490 shares of Martinrea International stock in a transaction dated Monday, March 18th. The stock was bought at an average cost of C$8.70 per share, for a total transaction of C$65,163.00. In other Martinrea International news, Senior Officer Alfred Di Tosto bought 3,620 shares of Martinrea International stock in a transaction dated Friday, March 15th. The stock was bought at an average cost of C$11.77 per share, for a total transaction of C$42,607.40. Also, Senior Officer Alfredo Alonso bought 7,490 shares of Martinrea International stock in a transaction dated Monday, March 18th. The shares were acquired at an average price of C$8.70 per share, with a total value of C$65,163.00. Insiders have purchased 38,948 shares of company stock valued at $355,132 in the last 90 days. 15.10% of the stock is currently owned by insiders.

About Martinrea International

Martinrea International Inc engages in the design, development, and manufacturing of engineered, value-added lightweight structures and propulsion systems worldwide. It offers lightweight structure products, including knuckles/control arms/links; subframes integral/fabricated products; complex assemblies; body structures; exterior trims; and trailer hitches.