Martinrea International (TSE:MRE) Stock Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Martinrea International's shares recently crossed above their 200-day moving average, trading at C$8.58 after reaching a high of C$8.69.
• Various analysts have adjusted their price targets for Martinrea, with TD Securities raising it to C$13.00, indicating a positive outlook for the company.
• The firm announced a quarterly dividend of $0.05 per share, reflecting a 2.3% yield and a payout ratio of 14.90%.

Martinrea International Inc. (TSE:MRE - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$8.01 and traded as high as C$8.69. Martinrea International shares last traded at C$8.58, with a volume of 111,611 shares.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. TD Securities raised their price objective on shares of Martinrea International from C$13.00 to C$14.00 and gave the stock a "buy" rating in a report on Wednesday. CIBC increased their target price on shares of Martinrea International from C$10.00 to C$10.50 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Raymond James Financial lowered their target price on shares of Martinrea International from C$14.00 to C$12.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of C$11.88.

Martinrea International Stock Performance

The company's 50-day moving average price is C$8.55 and its two-hundred day moving average price is C$8.02. The company has a debt-to-equity ratio of 80.32, a quick ratio of 0.68 and a current ratio of 1.23. The stock has a market cap of C$709.88 million, a PE ratio of 7.12, a PEG ratio of 0.82 and a beta of 2.08.

Martinrea International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.1%. Martinrea International's dividend payout ratio (DPR) is currently 14.90%.

Insider Buying and Selling at Martinrea International

In related news, Senior Officer Peter Cirulis acquired 4,568 shares of the stock in a transaction dated Friday, May 23rd. The shares were purchased at an average price of C$7.99 per share, for a total transaction of C$36,485.07. 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.