Morgan Advanced Materials plc (LON:MGAM - Get Free Report) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 237.26 ($3.21) and traded as low as GBX 208.50 ($2.82). Morgan Advanced Materials shares last traded at GBX 211 ($2.86), with a volume of 1,469,372 shares.
Wall Street Analyst Weigh In
Separately, Royal Bank of Canada cut their price target on shares of Morgan Advanced Materials from GBX 320 ($4.33) to GBX 265 ($3.59) and set an "outperform" rating for the company in a research note on Monday, March 3rd.
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Morgan Advanced Materials Stock Down 1.2%
The business's 50 day moving average price is GBX 197.75 and its 200-day moving average price is GBX 236.86. 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 company has a market cap of £591.96 million, a P/E ratio of 8.64, a PEG ratio of 0.51 and a beta of 1.34.
Morgan Advanced Materials (LON:MGAM - Get Free Report) last posted its earnings results 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, analysts anticipate that Morgan Advanced Materials plc will post 32.5 earnings per share for the current fiscal year.
Morgan Advanced Materials Increases Dividend
The company also recently announced a dividend, which was paid on Tuesday, May 13th. Stockholders of record on Thursday, April 10th were paid a GBX 6.80 ($0.09) dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a dividend yield of 3.17%. This is a boost from Morgan Advanced Materials's previous dividend of $5.40. Morgan Advanced Materials's payout ratio is 49.39%.
Insider Activity
In related news, insider Pete Raby sold 52,587 shares of the business'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 ($152,343.55). 1.69% of the stock is currently owned by corporate insiders.
About Morgan Advanced Materials
(
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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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