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

Shares of Monro, Inc. (NASDAQ:MNROGet Free Report) saw unusually-strong trading volume on Friday after the company announced a dividend. Approximately 328,620 shares traded hands during mid-day 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. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.28 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.12 annualized dividend and a dividend yield of 4.76%. Monro’s dividend payout ratio is presently 94.92%.

Monro Stock Performance

The firm has a market capitalization of $702.95 million, a price-to-earnings ratio of 19.92, a P/E/G ratio of 0.91 and a beta of 1.14. The company has a quick ratio of 0.23, a current ratio of 0.56 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average price of $28.70 and a 200-day moving average price of $29.83.

Monro (NASDAQ:MNROGet Free Report) last released its earnings results on Thursday, May 23rd. The auto parts company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.13). The firm had revenue of $310.08 million during the quarter, compared to analyst estimates of $320.16 million. Monro had a return on equity of 6.25% and a net margin of 2.94%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the company earned $0.08 earnings per share. As a group, equities research analysts forecast that Monro, Inc. will post 1.68 earnings per share for the current year.

Institutional Investors Weigh In On Monro

A number of institutional investors have recently added to or reduced their stakes in MNRO. Signaturefd LLC lifted its position in Monro by 1,375.4% in the third quarter. Signaturefd LLC now owns 900 shares of the auto parts company’s stock worth $25,000 after purchasing an additional 839 shares during the period. CWM LLC raised its stake in Monro by 144.6% during the 4th quarter. CWM LLC now owns 1,103 shares of the auto parts company’s stock valued at $32,000 after purchasing an additional 652 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Monro by 416.7% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,271 shares of the auto parts company’s stock valued at $37,000 after purchasing an additional 1,025 shares during the period. Quest Partners LLC acquired a new stake in Monro during the 4th quarter valued at $37,000. Finally, TFO Wealth Partners LLC raised its stake in Monro by 129,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,298 shares of the auto parts company’s stock valued at $38,000 after purchasing an additional 1,297 shares during the period.

About Monro

(Get Free Report)

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.

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