Morgan Advanced Materials (LON:MGAM) Stock Price Crosses Below 200-Day Moving Average - Here's What Happened

Morgan Advanced Materials plc (LON:MGAM - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 237.26 ($3.22) and traded as low as GBX 208.50 ($2.83). Morgan Advanced Materials shares last traded at GBX 211 ($2.86), with a volume of 1,469,372 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada cut their price target on shares of Morgan Advanced Materials from GBX 320 ($4.34) to GBX 265 ($3.60) and set an "outperform" rating on the stock in a report on Monday, March 3rd.

Morgan Advanced Materials Stock Performance

The company has a market capitalization of £617.33 million, a PE ratio of 9.01, a PEG ratio of 0.51 and a beta of 1.34. The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31. The firm's 50-day simple moving average is GBX 197.70 and its 200-day simple moving average is GBX 236.41.

Morgan Advanced Materials (LON:MGAM - Get Free Report) last released its quarterly earnings data on Friday, February 28th. The company reported GBX 25.50 ($0.35) 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%. On average, research analysts predict that Morgan Advanced Materials plc will post 32.5 earnings per share for the current 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 given a GBX 6.80 ($0.09) dividend. This represents a yield of 3.17%. This is a boost 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 payout ratio is 49.39%.

Insider Buying and Selling at Morgan Advanced Materials

In other news, insider Pete Raby sold 52,587 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of GBX 214 ($2.90), for a total value of £112,536.18 ($152,694.95). 1.69% of the stock is owned by corporate insiders.

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.