Monro Muffler Brake Inc. (MNRO) Stake Increased by PineBridge Investments L.P.
PineBridge Investments L.P. raised its stake in Monro Muffler Brake Inc. (NASDAQ:MNRO) by 4.0% during the second quarter, Holdings Channel reports. The firm owned 4,090 shares of the company’s stock after buying an additional 157 shares during the period. PineBridge Investments L.P.’s holdings in Monro Muffler Brake were worth $260,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. Royce & Associates LP increased its position in Monro Muffler Brake by 1.3% in the first quarter. Royce & Associates LP now owns 761,000 shares of the company’s stock worth $54,389,000 after buying an additional 10,000 shares during the period. Palisade Capital Management LLC NJ increased its position in Monro Muffler Brake by 10.6% in the first quarter. Palisade Capital Management LLC NJ now owns 67,703 shares of the company’s stock worth $4,839,000 after buying an additional 6,493 shares during the period. TimesSquare Capital Management LLC increased its position in Monro Muffler Brake by 4.0% in the first quarter. TimesSquare Capital Management LLC now owns 1,042,589 shares of the company’s stock worth $74,514,000 after buying an additional 40,245 shares during the period. NN Investment Partners Holdings N.V. purchased a new position in Monro Muffler Brake during the first quarter worth approximately $297,000. Finally, JPMorgan Chase & Co. increased its position in Monro Muffler Brake by 37,311.5% in the first quarter. JPMorgan Chase & Co. now owns 228,210 shares of the company’s stock worth $16,310,000 after buying an additional 227,600 shares during the period.
Shares of Monro Muffler Brake Inc. (NASDAQ:MNRO) opened at 61.70 on Friday. The company’s 50 day moving average price is $57.91 and its 200 day moving average price is $64.25. The stock has a market capitalization of $1.99 billion, a P/E ratio of 31.82 and a beta of 0.99. Monro Muffler Brake Inc. has a one year low of $55.24 and a one year high of $77.00.
Monro Muffler Brake (NASDAQ:MNRO) last issued its earnings results on Thursday, July 28th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. The business had revenue of $236.90 million for the quarter, compared to analysts’ expectations of $235.12 million. Monro Muffler Brake had a return on equity of 12.54% and a net margin of 6.86%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 EPS. On average, equities analysts expect that Monro Muffler Brake Inc. will post $2.15 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 22nd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Thursday, August 18th. Monro Muffler Brake’s payout ratio is 34.87%.
A number of research firms have recently commented on MNRO. Northcoast Research downgraded Monro Muffler Brake from a “neutral” rating to a “sell” rating in a report on Thursday, July 14th. Zacks Investment Research upgraded Monro Muffler Brake from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 20th. Jefferies Group restated a “buy” rating and issued a $72.00 price objective on shares of Monro Muffler Brake in a report on Friday, July 29th. Gabelli began coverage on Monro Muffler Brake in a report on Thursday, August 25th. They issued a “hold” rating on the stock. Finally, Susquehanna began coverage on Monro Muffler Brake in a report on Thursday, August 25th. They issued a “positive” rating and a $66.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $75.88.
In related news, insider John C. Lamb sold 650 shares of Monro Muffler Brake stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $56.22, for a total value of $36,543.00. Following the transaction, the insider now directly owns 500 shares in the company, valued at approximately $28,110. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher R. Hoornbeck sold 6,750 shares of Monro Muffler Brake stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $56.70, for a total value of $382,725.00. Following the transaction, the insider now owns 26,855 shares in the company, valued at approximately $1,522,678.50. The disclosure for this sale can be found here. 7.70% of the stock is owned by corporate insiders.
About Monro Muffler Brake
Monro Muffler Brake, Inc is engaged in the provision of automotive undercar repair and tire services in the United States. The Company provides a range of services on passenger cars, light trucks and vans for brakes; mufflers and exhaust systems, and steering, drive train, suspension and wheel alignment.
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