Linamar Co. to Issue Quarterly Dividend of $0.25 (TSE:LNR)

Linamar Co. (TSE:LNR) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors of record on Monday, May 27th will be paid a dividend of 0.25 per share on Friday, June 7th. This represents a $1.00 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Friday, May 24th.

Linamar Stock Down 0.5 %

TSE LNR traded down C$0.34 during trading on Friday, reaching C$69.91. 64,367 shares of the company’s stock were exchanged, compared to its average volume of 84,766. Linamar has a fifty-two week low of C$56.78 and a fifty-two week high of C$78.89. The firm has a market capitalization of C$4.31 billion, a PE ratio of 8.60, a P/E/G ratio of 1.12 and a beta of 1.45. The company has a current ratio of 1.59, a quick ratio of 0.75 and a debt-to-equity ratio of 33.30. The company’s fifty day simple moving average is C$68.02 and its 200-day simple moving average is C$64.54.

Linamar (TSE:LNR) last posted its quarterly earnings data on Wednesday, March 6th. The company reported C$1.98 EPS for the quarter, topping analysts’ consensus estimates of C$1.75 by C$0.23. Linamar had a return on equity of 9.93% and a net margin of 5.17%. The company had revenue of C$2.45 billion for the quarter, compared to analyst estimates of C$2.40 billion. Sell-side analysts predict that Linamar will post 10.0864553 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on LNR. Raymond James lifted their target price on Linamar from C$70.00 to C$74.00 in a report on Thursday. TD Securities upped their price objective on Linamar from C$86.00 to C$97.00 and gave the company a “buy” rating in a research note on Thursday. CIBC increased their target price on Linamar from C$90.00 to C$92.00 in a research report on Thursday. BMO Capital Markets raised their price target on Linamar from C$80.00 to C$90.00 in a research report on Thursday. Finally, Scotiabank raised their target price on Linamar from C$85.00 to C$90.00 in a research note on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Linamar currently has an average rating of “Moderate Buy” and an average target price of C$88.60.

Insiders Place Their Bets

In related news, Senior Officer Michael Willard Russell sold 2,022 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of C$69.18, for a total transaction of C$139,881.96. 35.92% of the stock is owned by insiders.

About Linamar

Linamar Corporation, together with its subsidiaries, produces engineered products in Canada, Europe, the Asia Pacific, and rest of North America. It operates through two segments, Mobility and Industrial. The Mobility segment focuses on light metal casting, forging, machining, and assembly for electrified and powered vehicle markets.