Metaldyne Performance Group Inc. (MPG) Sees Strong Trading Volume
Metaldyne Performance Group Inc. (NYSE:MPG) shares saw strong trading volume on Tuesday . 129,036 shares were traded during trading, an increase of 45% from the previous session’s volume of 88,922 shares.The stock last traded at $15.83 and had previously closed at $15.90.
A number of analysts have recently commented on the company. Robert W. Baird restated a “hold” rating on shares of Metaldyne Performance Group in a report on Sunday, May 8th. Zacks Investment Research cut shares of Metaldyne Performance Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 14th. Deutsche Bank AG decreased their price target on shares of Metaldyne Performance Group from $22.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, August 5th. Bank of America Corp. cut shares of Metaldyne Performance Group from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 21st. Finally, Royal Bank Of Canada cut shares of Metaldyne Performance Group from an “outperform” rating to a “sector perform” rating and decreased their price target 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of C$17.50.
The stock has a market capitalization of $1.06 billion and a P/E ratio of 10.12. The firm’s 50-day moving average price is $15.44 and its 200-day moving average price is $15.17.
Metaldyne Performance Group (NYSE:MPG) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by $0.09. During the same period last year, the company earned $0.69 earnings per share. The company had revenue of $728 million for the quarter, compared to analysts’ expectations of $756.60 million. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. Equities analysts predict that Metaldyne Performance Group Inc. will post $1.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Tuesday, September 6th will be given a $0.0925 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.37 dividend on an annualized basis and a yield of 2.34%.
An institutional investor recently raised its position in Metaldyne Performance Group stock. Jennison Associates LLC increased its position in Metaldyne Performance Group Inc. (NYSE:MPG) by 42.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 795,183 shares of the company’s stock after buying an additional 235,410 shares during the period. Jennison Associates LLC owned approximately 1.18% of Metaldyne Performance Group worth $14,584,000 at the end of the most recent 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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