Morgan Advanced Materials (LON:MGAM) Shares Pass Below 200 Day Moving Average - Here's What Happened

Morgan Advanced Materials plc (LON:MGAM - Get Free Report) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 238.81 ($3.18) and traded as low as GBX 207.50 ($2.76). Morgan Advanced Materials shares last traded at GBX 217 ($2.89), with a volume of 559,151 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MGAM shares. Royal Bank of Canada lowered their price target on shares of Morgan Advanced Materials from GBX 320 ($4.26) to GBX 265 ($3.53) and set an "outperform" rating on the stock in a report on Monday, March 3rd. Citigroup increased their price target on shares of Morgan Advanced Materials from GBX 325 ($4.33) to GBX 330 ($4.39) and gave the stock a "buy" rating in a report on Thursday, January 23rd.

Morgan Advanced Materials Trading Down 0.5%

The company has a debt-to-equity ratio of 103.31, a current ratio of 2.19 and a quick ratio of 1.26. The firm has a market capitalization of £608.87 million, a PE ratio of 8.89, a P/E/G ratio of 0.51 and a beta of 1.34. The company's fifty day simple moving average is GBX 197.91 and its 200-day simple moving average is GBX 238.55.

Morgan Advanced Materials (LON:MGAM - Get Free Report) last posted its quarterly earnings data on Friday, February 28th. The company reported GBX 25.50 ($0.34) earnings per share (EPS) for the quarter. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%. As a group, sell-side analysts expect that Morgan Advanced Materials plc will post 32.5 earnings per share for the current fiscal year.

Morgan Advanced Materials Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, May 13th. Shareholders of record on Thursday, April 10th were issued a dividend of GBX 6.80 ($0.09) per share. This represents a yield of 3.17%. This is an increase from Morgan Advanced Materials's previous dividend of $5.40. The ex-dividend date of this dividend was Thursday, April 10th. Morgan Advanced Materials's dividend payout ratio (DPR) is presently 49.39%.

Insider Buying and Selling at Morgan Advanced Materials

In other Morgan Advanced Materials news, insider Pete Raby bought 13,500 shares of Morgan Advanced Materials stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of GBX 182 ($2.42) per share, for a total transaction of £24,570 ($32,698.96). Insiders own 1.69% of the company's stock.

Morgan Advanced Materials Company Profile

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.

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