Monro (NASDAQ:MNRO) Sees Large Volume Increase After Dividend Announcement

Monro, Inc. (NASDAQ:MNRO) saw unusually-strong trading volume on Friday after the company announced a dividend. Approximately 328,620 shares were traded during trading, a decline of 24% from the previous session’s volume of 432,598 shares.The stock last traded at $23.92 and had previously closed at $22.89.

The newly announced dividend which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.12 annualized dividend and a yield of 4.76%. Monro’s payout ratio is 104.67%.

Monro Stock Performance

The firm’s fifty day simple moving average is $28.70 and its 200 day simple moving average is $29.81. The company has a market capitalization of $702.95 million, a price-to-earnings ratio of 21.97, a PEG ratio of 1.03 and a beta of 1.14. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.56 and a quick ratio of 0.23.

Monro (NASDAQ:MNRO) last announced its quarterly earnings data on Thursday, May 23rd. The auto parts company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.13). The company had revenue of $310.08 million for the quarter, compared to analysts’ expectations of $320.16 million. Monro had a net margin of 2.68% and a return on equity of 5.59%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 earnings per share. On average, sell-side analysts forecast that Monro, Inc. will post 1.45 EPS for the current year.

Hedge Funds Weigh In On Monro

Large investors have recently bought and sold shares of the stock. Signaturefd LLC lifted its position in Monro by 1,375.4% during the 3rd quarter. Signaturefd LLC now owns 900 shares of the auto parts company’s stock valued at $25,000 after purchasing an additional 839 shares during the period. CWM LLC boosted its position in Monro by 144.6% during the fourth quarter. CWM LLC now owns 1,103 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 652 shares during the period. Quest Partners LLC bought a new position in Monro during the fourth quarter worth $37,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Monro by 416.7% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,271 shares of the auto parts company’s stock worth $37,000 after buying an additional 1,025 shares in the last quarter. Finally, TFO Wealth Partners LLC lifted its holdings in shares of Monro by 129,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,298 shares of the auto parts company’s stock worth $38,000 after buying an additional 1,297 shares in the last quarter.

Monro Company Profile

Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. It offers replacement tires and tire related services, automotive undercar repair services, and routine maintenance services primarily to passenger cars, light trucks, and vans. The company also provides other products and services for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment.