Legal & General Group Plc increased its stake in Monro Muffler Brake, Inc. (NASDAQ:MNRO) by 8.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,083 shares of the auto parts company’s stock after buying an additional 5,158 shares during the quarter. Legal & General Group Plc owned about 0.19% of Monro Muffler Brake worth $2,631,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wrapmanager Inc. lifted its position in Monro Muffler Brake by 42.7% in the second quarter. Wrapmanager Inc. now owns 10,017 shares of the auto parts company’s stock worth $418,000 after buying an additional 2,999 shares during the last quarter. First Trust Advisors LP bought a new stake in Monro Muffler Brake in the second quarter worth $670,000. Arizona State Retirement System lifted its position in Monro Muffler Brake by 0.6% in the second quarter. Arizona State Retirement System now owns 17,091 shares of the auto parts company’s stock worth $714,000 after buying an additional 100 shares during the last quarter. Granite Investment Partners LLC lifted its position in Monro Muffler Brake by 6.9% in the second quarter. Granite Investment Partners LLC now owns 319,306 shares of the auto parts company’s stock worth $13,331,000 after buying an additional 20,485 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in Monro Muffler Brake by 8.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 182,609 shares of the auto parts company’s stock worth $7,624,000 after buying an additional 14,434 shares during the last quarter.

Shares of Monro Muffler Brake, Inc. (NASDAQ:MNRO) opened at 50.30 on Wednesday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 26.78 and a beta of 0.71. Monro Muffler Brake, Inc. has a 1-year low of $39.65 and a 1-year high of $62.07. The firm has a 50-day moving average price of $47.49 and a 200-day moving average price of $48.90.

Monro Muffler Brake (NASDAQ:MNRO) last posted its earnings results on Thursday, July 20th. The auto parts company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. Monro Muffler Brake had a return on equity of 10.90% and a net margin of 5.84%. The firm had revenue of $278.50 million for the quarter, compared to analyst estimates of $270.85 million. During the same quarter in the prior year, the company earned $0.50 EPS. Monro Muffler Brake’s revenue was up 18.4% on a year-over-year basis. Equities analysts forecast that Monro Muffler Brake, Inc. will post $2.13 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Monday, August 28th were paid a dividend of $0.18 per share. This is a positive change from Monro Muffler Brake’s previous quarterly dividend of $0.11. The ex-dividend date was Thursday, August 24th. This represents a $0.72 annualized dividend and a yield of 1.43%. Monro Muffler Brake’s dividend payout ratio is presently 38.30%.

MNRO has been the subject of a number of analyst reports. Stephens downgraded Monro Muffler Brake from an “overweight” rating to an “equal weight” rating in a research report on Thursday, June 29th. BidaskClub upgraded Monro Muffler Brake from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $60.00 target price on shares of Monro Muffler Brake in a research note on Tuesday, September 12th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and issued a $51.00 target price (down previously from $54.00) on shares of Monro Muffler Brake in a research note on Saturday, July 22nd. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of Monro Muffler Brake in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $63.33.

In related news, VP Craig L. Hoyle sold 2,000 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $48.02, for a total transaction of $96,040.00. Following the transaction, the vice president now owns 58,000 shares of the company’s stock, valued at approximately $2,785,160. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Robert G. Gross sold 1,473 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $46.76, for a total value of $68,877.48. Following the transaction, the chief executive officer now directly owns 132,807 shares in the company, valued at approximately $6,210,055.32. The disclosure for this sale can be found here. In the last three months, insiders have purchased 6,893 shares of company stock worth $328,155 and have sold 244,064 shares worth $11,438,709. 6.20% of the stock is currently owned by corporate insiders.

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About Monro Muffler Brake

Monro, Inc, formerly 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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Institutional Ownership by Quarter for Monro Muffler Brake (NASDAQ:MNRO)

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