Morgan Advanced Materials (LON:MGAM) Stock Price Down 13.1% - Here's What Happened

Key Points

• Morgan Advanced Materials plc saw a significant drop of 13.1% in its stock price during trading, closing at GBX 196 ($2.62) after reaching a low of GBX 167 ($2.23) on Thursday.
• The company's insider trading revealed that insiders have sold a total of 93,951 shares worth approximately $20 million over the past ninety days, indicating a trend in insider selling.
• Morgan Advanced Materials reported earnings per share of GBX 10.80 ($0.14) for the latest quarter and a projected EPS of 32.5 for the current year, with a return on equity of 19.02%.

Shares of Morgan Advanced Materials plc (LON:MGAM - Get Free Report) dropped 13.1% during trading on Thursday . The company traded as low as GBX 167 ($2.23) and last traded at GBX 196 ($2.62). Approximately 2,395,195 shares changed hands during mid-day trading, an increase of 89% from the average daily volume of 1,269,546 shares. The stock had previously closed at GBX 225.50 ($3.01).

Morgan Advanced Materials Stock Down 13.1%

The firm's 50-day simple moving average is GBX 220.61 and its 200 day simple moving average is GBX 221.29. The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19. The stock has a market capitalization of £552.49 million, a P/E ratio of 8.07, a PEG ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials (LON:MGAM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported GBX 10.80 ($0.14) earnings per share (EPS) for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. As a group, research analysts expect that Morgan Advanced Materials plc will post 32.5 EPS for the current year.

Insider Buying and Selling at Morgan Advanced Materials

In other news, insider Pete Raby sold 52,587 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of GBX 214 ($2.86), for a total transaction of £112,536.18 ($150,328.85). Also, insider Damien Caby sold 15,016 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of GBX 212 ($2.83), for a total transaction of £31,833.92 ($42,524.61). Insiders have sold a total of 93,951 shares of company stock worth $20,022,786 over the last ninety days. Insiders own 1.69% of the company's stock.

About Morgan Advanced Materials

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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