Metaldyne Performance Group Inc. (MPG) Trading Up 6%
Metaldyne Performance Group Inc. (NYSE:MPG) shares were up 6% during mid-day trading on Friday . The stock traded as high as $14.34 and last traded at $14.23, with a volume of 57,139 shares traded. The stock had previously closed at $13.42.
Several research analysts recently issued reports on MPG shares. Zacks Investment Research raised Metaldyne Performance Group from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Wednesday, May 11th. KeyCorp reaffirmed a “buy” rating on shares of Metaldyne Performance Group in a research report on Sunday, July 3rd. Bank of America Corp. lowered Metaldyne Performance Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 21st. Royal Bank Of Canada lowered Metaldyne Performance Group from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $18.00 to $14.00 in a research report on Wednesday, June 29th. They noted that the move was a valuation call. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Metaldyne Performance Group in a research report on Sunday, May 8th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of C$17.63.
The firm has a market capitalization of $969.62 million and a PE ratio of 8.46. The firm has a 50 day moving average price of $15.40 and a 200 day moving average price of $15.04.
Metaldyne Performance Group (NYSE:MPG) last announced its earnings results on Thursday, May 5th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. The company earned $739.50 million during the quarter, compared to analysts’ expectations of $713.05 million. During the same quarter last year, the firm posted $0.47 earnings per share. The firm’s revenue was down 3.4% on a year-over-year basis. Analysts predict that Metaldyne Performance Group Inc. will post $1.81 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 21st. Investors of record on Tuesday, June 7th were given a $0.0925 dividend. This is a boost from Metaldyne Performance Group’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Friday, June 3rd. This represents a $0.37 annualized dividend and a yield of 2.59%.
A number of hedge funds and institutional investors recently made changes to their positions in the company. Century Capital Management LLC raised its position in shares of Metaldyne Performance Group by 5.9% in the fourth quarter. Century Capital Management LLC now owns 249,567 shares of the company’s stock valued at $4,577,000 after buying an additional 13,979 shares during the period. Wells Fargo & Company MN increased its stake in Metaldyne Performance Group by 4.4% in the fourth quarter. Wells Fargo & Company MN now owns 455,372 shares of the company’s stock valued at $8,351,000 after buying an additional 19,068 shares in the last quarter. American Century Companies Inc. acquired a new stake in Metaldyne Performance Group during the fourth quarter valued at $1,123,000. Finally, Jennison Associates LLC increased its stake in Metaldyne Performance Group by 42.1% in the fourth quarter. Jennison Associates LLC now owns 795,183 shares of the company’s stock valued at $14,584,000 after buying an additional 235,410 shares in the last quarter.
Metaldyne Performance Group Inc provides components for use in engine, transmission and driveline (Powertrain) and chassis, suspension, steering and brake component (Safety-Critical) Platforms for the global light, commercial and industrial vehicle markets. The Company produces these components using complex metal-forming manufacturing technologies and processes for a customer base of vehicle original equipment manufacturers (OEMs) and Tier I suppliers.
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