Martinrea International, $9.02, symbol MRE on Toronto (Shares outstanding: 83.0 million; Market cap: $748.7 million; www.martinrea.com), makes and sells metal parts, assemblies and fluid systems, mainly for the automotive and industrial manufacturing sectors. It has 37 plants, in Canada, the U.S., Mexico, Brazil and Europe.
In the three months ended September 30, 2012, Martinrea’s sales rose 21.8%, to $697.2 million from $572.3 million a year earlier. The increase was largely due to higher sales in North America.
Before one-time items, earnings per share fell 15%, to $0.17 from $0.20. However, the decline was mostly due to one-time costs to start building new parts, particularly for Ford’s Escape and Fusion vehicles.
Martinrea will need to successfully launch new products into an uncertain auto market to show continued growth. Its growth-by-acquisition strategy also adds risk.
The stock is okay to hold, but for aggressive investors only. …
Privacy Policy and Terms of Use
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Changes to this Policy
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