Morgan Advanced Materials plc (LON:MGAM) Raises Dividend to GBX 6.80 Per Share

Morgan Advanced Materials plc (LON:MGAM - Get Free Report) declared a dividend on Friday, February 28th, DividendData.Co.Uk reports. Investors of record on Thursday, April 10th will be given a dividend of GBX 6.80 ($0.09) per share on Tuesday, May 13th. This represents a yield of 3.17%. The ex-dividend date is Thursday, April 10th. This is a 25.9% increase from Morgan Advanced Materials's previous dividend of $5.40. The official announcement can be viewed at this link.

Morgan Advanced Materials Stock Performance

MGAM traded down GBX 1.20 ($0.02) during midday trading on Friday, hitting GBX 180.60 ($2.36). 997,717 shares of the company were exchanged, compared to its average volume of 2,010,214. The company's 50 day simple moving average is GBX 225.27 and its 200 day simple moving average is GBX 249.61. The firm has a market capitalization of £509.08 million, a price-to-earnings ratio of 7.43, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34. Morgan Advanced Materials has a 1-year low of GBX 171.20 ($2.24) and a 1-year high of GBX 347 ($4.54). The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31.

Morgan Advanced Materials (LON:MGAM - Get Free Report) last posted its earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.33) 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, sell-side analysts predict that Morgan Advanced Materials will post 32.5 earnings per share for the current year.

Insider Activity

In other Morgan Advanced Materials news, insider Pete Raby sold 48,253 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of GBX 204 ($2.67), for a total transaction of £98,436.12 ($128,792.52). Company insiders own 1.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MGAM. Citigroup lifted their target price on shares of Morgan Advanced Materials from GBX 325 ($4.25) to GBX 330 ($4.32) and gave the company a "buy" rating in a report on Thursday, January 23rd. Royal Bank of Canada cut their price objective on shares of Morgan Advanced Materials from GBX 320 ($4.19) to GBX 265 ($3.47) and set an "outperform" rating for the company in a report on Monday, March 3rd.

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.