RBC Capital Downgrades Metaldyne Performance Group Inc to Sector Perform

Brokerage firm RBC Capital Downgrades its rating on Metaldyne Performance Group Inc(NYSE:MPG). The shares have been rated Sector Perform. Previously, the analysts had a Outperform rating on the shares. The rating by RBC Capital was issued on Jun 29, 2016.

In a different note, On Jun 21, 2016, Bank of America said it Downgrades its rating on Metaldyne Performance Group Inc. The shares have been rated ‘Neutral’ by the firm.

Metaldyne Performance Group Inc (MPG) made into the market gainers list on Fridays trading session with the shares advancing 0.36% or 0.05 points. Due to strong positive momentum, the stock ended at $13.8, which is also near the day’s high of $14.26. The stock began the session at $13.86 and the volume stood at 1,01,639 shares. The 52-week high of the shares is $24.62 and the 52 week low is $10.87. The company has a current market capitalization of $935 M and it has 6,77,58,332 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Nov 3, 2015, Thomas A Amato (Co-President) sold 28,323 shares at $22.50 per share price.

Metaldyne Performance Group Inc. is a provider of components for use in engine transmission and driveline (Powertrain) and chassis suspension steering and brake component (Safety-Critical) platforms for the global light commercial and industrial vehicle markets. The Company operates in three operating segments: HHI which consists of the business of ASP HHI Holdings Inc.; Metaldyne which consists of the business of ASP MD Holdings Inc. and Grede which consists of the business of ASP Grede Intermediate Holdings LLC. The Company’s HHI segment manufactures metal-based products for the North American light vehicle market. The Company’s Metaldyne segment manufactures metal-based Powertrain products for the global light vehicle markets. The Company’s Grede segment manufactures cast machined and assembled components for the light commercial and industrial (agriculture construction mining rail wind energy and oil field) vehicle and equipment end-markets.

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