Linamar Co. (TSE:LNR – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$57.80 and last traded at C$57.88, with a volume of 21981 shares. The stock had previously closed at C$58.80.
Analyst Ratings Changes
Several research analysts recently commented on LNR shares. BMO Capital Markets cut their price target on shares of Linamar from C$85.00 to C$80.00 and set an “outperform” rating on the stock in a report on Thursday, November 9th. Scotiabank cut their price objective on Linamar from C$96.00 to C$90.00 and set an “outperform” rating on the stock in a research report on Thursday, November 9th. Raymond James downgraded shares of Linamar from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from C$90.00 to C$70.00 in a research note on Thursday, November 9th. TD Securities dropped their price objective on Linamar from C$87.00 to C$86.00 and set a “buy” rating on the stock in a report on Thursday, November 9th. Finally, CIBC dropped their price target on shares of Linamar from C$91.00 to C$90.00 and set an “outperform” rating for the company in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Linamar currently has an average rating of “Moderate Buy” and a consensus price target of C$83.20.
Linamar Trading Up 1.2 %
Linamar Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 21st will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Monday, November 20th. Linamar’s dividend payout ratio is presently 11.46%.
Insider Buying and Selling at Linamar
In related news, insider Elliot Burger purchased 677 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were acquired at an average price of C$57.39 per share, with a total value of C$38,853.03. 35.79% of the stock is owned by insiders.
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 powered vehicle markets.
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