Martinrea International (TSE:MRE) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

Shares of Martinrea International Inc. (TSE:MRE) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$10.11 and traded as low as C$8.88. Martinrea International shares last traded at C$8.95, with a volume of 203,266 shares.

Analysts Set New Price Targets

MRE has been the topic of several research analyst reports. TD Securities increased their target price on Martinrea International from C$14.00 to C$15.00 and gave the stock a “buy” rating in a report on Friday, March 6th. BMO Capital Markets cut their price target 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. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Martinrea International presently has an average rating of “Moderate Buy” and an average price target of C$12.63.

Martinrea International Stock Down 6.0%

The company has a debt-to-equity ratio of 74.05, a current ratio of 1.19 and a quick ratio of 0.68. The firm has a market cap of C$644.48 million, a price-to-earnings ratio of 6.09, a price-to-earnings-growth ratio of 0.82 and a beta of 1.82. The firm has a 50 day moving average price of C$9.87 and a 200-day moving average price of C$10.11.

Martinrea International (TSE:MRE) last issued its quarterly earnings results on Thursday, March 5th. The company reported C$0.67 earnings per share (EPS) for the quarter. Martinrea International had a return on equity of 7.13% and a net margin of 2.22%.The business had revenue of C$1.19 billion for the quarter. As a group, equities analysts predict that Martinrea International Inc. will post 2.4988962 EPS for the current fiscal year.

Martinrea International Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, March 31st. Martinrea International’s dividend payout ratio is 13.61%.

Insider Activity

In related news, insider Francesco Barbara bought 12,333 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were purchased at an average price of C$8.95 per share, with a total value of C$110,380.35. Following the completion of the purchase, the insider owned 54,119 shares of the company’s stock, valued at C$484,365.05. This represents a 29.51% increase in their position. Insiders acquired a total of 13,429 shares of company stock worth $120,407 over the last quarter. Corporate insiders own 11.31% of the company’s stock.

About Martinrea International

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.