Posted by admin on Aug 11th, 2022
Shares of Martinrea International Inc. (TSE:MRE – Get Rating) traded up 8% on Tuesday following a dividend announcement from the company. The stock traded as high as C$10.70 and last traded at C$10.43. 247,710 shares were traded during trading, a decline of 23% from the average session volume of 322,208 shares. The stock had previously closed at C$9.66.
The newly announced dividend which will be paid on Saturday, October 15th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Wednesday, September 28th. Martinrea International’s dividend payout ratio (DPR) is presently 71.43%.
A number of analysts have recently commented on the stock. Raymond James boosted their target price on shares of Martinrea International from C$11.00 to C$12.00 and gave the company a “market perform” rating in a report on Tuesday. TD Securities upgraded shares of Martinrea International from a “buy” rating to an “action list buy” rating and set a C$14.00 price target on the stock in a research note on Friday, August 5th. BMO Capital Markets upped their price target on shares of Martinrea International from C$9.00 to C$11.00 in a research note on Tuesday. CIBC upped their price target on shares of Martinrea International from C$9.75 to C$10.50 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Scotiabank upped their price target on shares of Martinrea International from C$13.00 to C$14.00 in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$12.83.
The stock has a 50-day simple moving average of C$8.93 and a two-hundred day simple moving average of C$9.00. The company has a debt-to-equity ratio of 108.05, a quick ratio of 0.70 and a current ratio of 1.19. The firm has a market cap of C$851.30 million and a PE ratio of 37.82.
Martinrea International Inc designs, develops, manufactures, and sells metal parts, assemblies and modules, fluid management systems, and aluminum products primarily to the automotive industry in North America, Europe, and internationally. It offers engine blocks, transmissions, cases, housings, oil coolers, hoses, tube assemblies, oil fillers, tubes, indicators, oil pick-up screens and pipes, heater hose inlets and outlets, and electric motor housings; and front horizontal, rear suspension, and front vertical modules.
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