Gabelli Funds LLC Acquires 32,000 Shares of Monro, Inc. (NASDAQ:MNRO)

Gabelli Funds LLC lifted its stake in Monro, Inc. (NASDAQ:MNRO) by 37.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,000 shares of the auto parts company’s stock after purchasing an additional 32,000 shares during the quarter. Gabelli Funds LLC owned about 0.39% of Monro worth $2,792,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its holdings in Monro by 99.6% in the second quarter. Nisa Investment Advisors LLC now owns 1,048 shares of the auto parts company’s stock worth $25,000 after acquiring an additional 523 shares in the last quarter. Wasatch Advisors LP raised its holdings in Monro by 3.0% in the 1st quarter. Wasatch Advisors LP now owns 20,958 shares of the auto parts company’s stock worth $661,000 after acquiring an additional 615 shares during the last quarter. EntryPoint Capital LLC lifted its position in Monro by 33.9% in the 1st quarter. EntryPoint Capital LLC now owns 3,169 shares of the auto parts company’s stock valued at $100,000 after acquiring an additional 802 shares in the last quarter. Headlands Technologies LLC boosted its stake in Monro by 32.5% during the 1st quarter. Headlands Technologies LLC now owns 3,675 shares of the auto parts company’s stock valued at $116,000 after purchasing an additional 902 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in Monro during the 4th quarter valued at $37,000.

Monro Stock Down 1.4 %

MNRO stock opened at $28.11 on Thursday. The stock has a market capitalization of $841.08 million, a P/E ratio of 23.82, a P/E/G ratio of 1.81 and a beta of 1.10. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.59 and a quick ratio of 0.25. Monro, Inc. has a 1-year low of $21.00 and a 1-year high of $33.98. The business has a fifty day moving average price of $26.36 and a 200-day moving average price of $26.58.

Monro (NASDAQ:MNRO) last issued its earnings results on Wednesday, July 31st. The auto parts company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.21. The business had revenue of $293.20 million during the quarter, compared to analyst estimates of $293.70 million. Monro had a return on equity of 5.90% and a net margin of 2.78%. Monro’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 EPS. Equities analysts forecast that Monro, Inc. will post 1 earnings per share for the current fiscal year.

Monro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $1.12 dividend on an annualized basis and a yield of 3.98%. Monro’s dividend payout ratio (DPR) is 94.92%.

About Monro

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.