Monro Muffler Brake, Inc. (NASDAQ:MNRO) Declares $0.28 Quarterly Dividend

Monro Muffler Brake, Inc. (NASDAQ:MNRO) declared a quarterly dividend on Tuesday, November 18th. Investors of record on Tuesday, December 2nd will be given a dividend of 0.28 per share by the auto parts company on Tuesday, December 16th. This represents a c) annualized dividend and a dividend yield of 6.2%. The ex-dividend date is Tuesday, December 2nd.

Monro Muffler Brake has raised its dividend payment by an average of 0.0%per year over the last three years. Monro Muffler Brake has a payout ratio of 131.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Monro Muffler Brake to earn $0.79 per share next year, which means the company may not be able to cover its $1.12 annual dividend with an expected future payout ratio of 141.8%.

Monro Muffler Brake Price Performance

Monro Muffler Brake stock opened at $18.18 on Thursday. The business has a 50 day simple moving average of $17.48 and a 200 day simple moving average of $16.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.48 and a quick ratio of 0.16. The company has a market capitalization of $545.76 million, a PE ratio of -27.13, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. Monro Muffler Brake has a one year low of $12.19 and a one year high of $28.73.

Monro Muffler Brake (NASDAQ:MNRO) last released its quarterly earnings data on Wednesday, October 29th. The auto parts company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. The firm had revenue of $288.91 million during the quarter, compared to analyst estimates of $299.04 million. Monro Muffler Brake had a positive return on equity of 2.77% and a negative net margin of 1.60%.The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 earnings per share. On average, sell-side analysts forecast that Monro Muffler Brake will post 0.63 EPS for the current fiscal year.

Insider Activity at Monro Muffler Brake

In related news, major shareholder Carl C. Icahn purchased 101,422 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of $17.48 per share, with a total value of $1,772,856.56. Following the completion of the acquisition, the insider directly owned 5,078,573 shares in the company, valued at approximately $88,773,456.04. This trade represents a 2.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 1,278,132 shares of company stock worth $20,815,969 over the last quarter. 2.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MNRO. Clearline Capital LP acquired a new position in shares of Monro Muffler Brake during the first quarter valued at $11,810,000. Nomura Holdings Inc. raised its holdings in Monro Muffler Brake by 62.8% during the 1st quarter. Nomura Holdings Inc. now owns 1,681,250 shares of the auto parts company’s stock worth $24,328,000 after purchasing an additional 648,269 shares during the last quarter. Maverick Capital Ltd. acquired a new position in Monro Muffler Brake during the 1st quarter valued at about $4,379,000. Landscape Capital Management L.L.C. acquired a new position in Monro Muffler Brake during the 1st quarter valued at about $3,230,000. Finally, Gamco Investors INC. ET AL boosted its stake in shares of Monro Muffler Brake by 20.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 822,515 shares of the auto parts company’s stock valued at $11,902,000 after purchasing an additional 139,730 shares during the last quarter.

Monro Muffler Brake 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.