Cerity Partners LLC Makes New $2.42 Million Investment in Monro, Inc. (NASDAQ:MNRO)

Cerity Partners LLC bought a new position in shares of Monro, Inc. (NASDAQ:MNRO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 82,474 shares of the auto parts company’s stock, valued at approximately $2,420,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC lifted its position in shares of Monro by 22.9% during the second quarter. FMR LLC now owns 1,164 shares of the auto parts company’s stock worth $49,000 after purchasing an additional 217 shares during the last quarter. First Republic Investment Management Inc. lifted its position in shares of Monro by 3.3% during the fourth quarter. First Republic Investment Management Inc. now owns 7,978 shares of the auto parts company’s stock worth $361,000 after purchasing an additional 255 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of Monro by 1.0% in the second quarter. Macquarie Group Ltd. now owns 28,907 shares of the auto parts company’s stock valued at $1,240,000 after acquiring an additional 297 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Monro by 1.0% in the third quarter. Thrivent Financial for Lutherans now owns 33,283 shares of the auto parts company’s stock valued at $1,446,000 after acquiring an additional 326 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Monro by 4.7% in the first quarter. Bank of Montreal Can now owns 9,728 shares of the auto parts company’s stock valued at $451,000 after acquiring an additional 434 shares in the last quarter.

Monro Stock Performance

MNRO stock opened at $29.74 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.56 and a quick ratio of 0.23. The business has a 50-day moving average price of $31.24 and a 200 day moving average price of $29.61. The company has a market capitalization of $889.29 million, a P/E ratio of 27.79, a PEG ratio of 1.18 and a beta of 1.11. Monro, Inc. has a 1-year low of $22.72 and a 1-year high of $50.20.

Monro (NASDAQ:MNRO) last released its quarterly earnings data on Wednesday, January 24th. The auto parts company reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. The firm had revenue of $317.65 million during the quarter, compared to the consensus estimate of $324.75 million. Monro had a return on equity of 5.59% and a net margin of 2.68%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. As a group, equities research analysts forecast that Monro, Inc. will post 1.45 EPS for the current fiscal year.

Monro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $0.28 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.12 annualized dividend and a dividend yield of 3.77%. Monro’s payout ratio is currently 104.67%.

Insider Activity at Monro

In other news, CEO Michael T. Broderick bought 5,000 shares of Monro stock in a transaction on Friday, February 2nd. The stock was acquired at an average cost of $32.30 per share, for a total transaction of $161,500.00. Following the completion of the acquisition, the chief executive officer now owns 90,487 shares of the company’s stock, valued at approximately $2,922,730.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is currently owned by corporate insiders.

Monro Company Profile

Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. It offers replacement tires and tire related services, automotive undercar repair services, and routine maintenance services primarily to passenger cars, light trucks, and vans. The company also provides other products and services for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment.