Martinrea International (TSE:MRE) Sets New 52-Week High – Time to Buy?

Martinrea International Inc. (TSE:MRE)’s stock price hit a new 52-week high on Tuesday . The stock 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.

Wall Street Analyst Weigh In

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

Martinrea International Trading Up 2.1%

The company has a debt-to-equity ratio of 77.11, a quick ratio of 0.68 and a current ratio of 1.27. The firm has a 50 day simple moving average of C$9.80 and a two-hundred day simple moving average of C$10.11. The firm has a market capitalization of C$814.57 million, a P/E ratio of 7.09, a PEG ratio of 0.82 and a beta of 1.93.

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

Martinrea International Announces Dividend

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

Insiders Place Their Bets

In other Martinrea International news, insider Francesco Barbara bought 12,333 shares of the stock in a transaction dated Thursday, March 19th. The shares were bought at an average cost of C$8.95 per share, for a total transaction of C$110,380.35. Following the purchase, the insider directly 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 position. Also, insider Peter Cirulis bought 5,275 shares of the stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average price of C$10.41 per share, for a total transaction 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. This trade represents a 4.06% increase in their ownership of the stock. Insiders have bought a total of 18,704 shares of company stock worth $175,320 over the last quarter. Company 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.