Kiwi-Newton Construction Ltd. Acquires 34,750 Shares of Linamar Co. (TSE:LNR) Stock
Linamar Co. (TSE:LNR – Get Rating) insider Kiwi-Newton Construction Ltd. purchased 34,750 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The shares were purchased at an average cost of C$57.62 per share, for a total transaction of C$2,002,295.00. Following the purchase, the insider now directly owns 74,750 shares in the company, valued at C$4,307,095.
Linamar stock traded up C$0.07 during midday trading on Tuesday, hitting C$57.10. The stock had a trading volume of 109,976 shares, compared to its average volume of 196,861. The business has a fifty day moving average price of C$51.84 and a 200 day moving average price of C$62.96. Linamar Co. has a 12 month low of C$45.46 and a 12 month high of C$84.19. The stock has a market cap of C$3.73 billion and a P/E ratio of 10.30. The company has a current ratio of 1.55, a quick ratio of 0.94 and a debt-to-equity ratio of 17.09.
Linamar (TSE:LNR – Get Rating) last issued its quarterly earnings results on Wednesday, May 11th. The company reported C$1.08 earnings per share for the quarter. The firm had revenue of C$1.78 billion during the quarter. On average, equities analysts anticipate that Linamar Co. will post 8.2428969 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 8th. Stockholders of record on Friday, May 27th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, May 26th. Linamar’s dividend payout ratio (DPR) is presently 13.00%.
LNR has been the topic of a number of analyst reports. TD Securities dropped their target price on Linamar from C$83.00 to C$80.00 and set a “buy” rating on the stock in a research report on Thursday, May 12th. BMO Capital Markets downgraded Linamar from an “outperform” rating to a “hold” rating and dropped their price objective for the stock from C$97.00 to C$60.00 in a report on Monday, March 7th. CIBC reduced their target price on Linamar from C$85.00 to C$73.00 and set an “outperform” rating for the company in a research note on Thursday, May 12th. Finally, Scotiabank decreased their price target on shares of Linamar from C$90.00 to C$85.00 in a research report on Friday, April 1st.
Linamar Company Profile (Get Rating)
Linamar Corporation, together with its subsidiaries, design, develop, and produce engineered products in Canada, North America, Europe, and the Asia Pacific. It operates through two segments, Mobility and Industrial. The Mobility segment engages in the design, development, and manufacture of precision metallic components, modules, and systems for vehicle and power generation markets.
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