Martinrea International Inc (MRE) Sets New 52-Week High at $12.63

Martinrea International Inc (TSE:MRE) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$12.63 and last traded at C$12.58, with a volume of 317,187 shares trading hands. The stock had previously closed at C$12.22.

A number of brokerages recently issued reports on MRE. Royal Bank Of Canada lifted their price objective on shares of Martinrea International from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Scotiabank lifted their price objective on shares of Martinrea International from C$15.00 to C$15.50 and gave the company a “sector perform” rating in a research note on Wednesday, August 9th. Finally, BMO Capital Markets raised shares of Martinrea International from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from C$11.00 to C$14.00 in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of C$13.50.

The stock has a market cap of $1.09 billion and a price-to-earnings ratio of 7.23. The stock’s 50-day moving average price is $11.20 and its 200 day moving average price is $10.70.

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Saturday, September 30th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, September 28th.

In other news, insider Kerri Lynn Pope bought 4,600 shares of the stock in a transaction on Friday, August 11th. The shares were acquired at an average cost of C$10.65 per share, for a total transaction of C$48,990.00.

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A number of brokerages recently issued reports on MRE. Royal Bank Of Canada lifted their price objective on shares of Martinrea International from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Scotiabank lifted their price objective on shares of Martinrea International from C$15.00 to C$15.50 and gave the company a “sector perform” rating in a research note on Wednesday, August 9th. Finally, BMO Capital Markets raised shares of Martinrea International from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from C$11.00 to C$14.00 in a research note on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of C$13.50.

The stock has a market cap of $1.09 billion and a price-to-earnings ratio of 7.23. The stock’s 50-day moving average price is $11.20 and its 200 day moving average price is $10.70.

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Saturday, September 30th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, September 28th.

In other news, insider Kerri Lynn Pope bought 4,600 shares of the stock in a transaction on Friday, August 11th. The shares were acquired at an average cost of C$10.65 per share, for a total transaction of C$48,990.00.

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Martinrea International Company Profile

Martinrea International Inc is a Canada-based company engaged in the development and production of metal parts, assemblies and modules, fluid management systems and complex aluminum products focused primarily on the automotive sector. The Company’s segments are North America, Europe and Rest of the World.

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