Persimmon (OTCMKTS:PSMMY) Stock Price Up 0.1% - What's Next?

Key Points

• Persimmon Plc experienced a slight increase in stock price, rising 0.1% to close at $29.83 with a trading volume up 45% from average daily levels.
• Several brokerages have recently upgraded their ratings on Persimmon, with Morgan Stanley maintaining an "overweight" rating, while Kepler Capital Markets upgraded to a "strong-buy."
• Persimmon announced a significant increase in its dividend, now at $0.9997 per share, reflecting a 394.0% yield, compared to the previous dividend of $0.48.

Persimmon Plc (OTCMKTS:PSMMY - Get Free Report) rose 0.1% during trading on Monday . The company traded as high as $29.89 and last traded at $29.83. Approximately 10,976 shares were traded during trading, an increase of 45% from the average daily volume of 7,558 shares. The stock had previously closed at $29.81.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PSMMY. Morgan Stanley restated an "overweight" rating on shares of Persimmon in a research report on Tuesday, May 6th. Kepler Capital Markets raised shares of Persimmon to a "strong-buy" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada upgraded shares of Persimmon from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 9th. Finally, Citigroup reaffirmed a "buy" rating on shares of Persimmon in a report on Thursday.

Persimmon Stock Up 0.1%

The stock has a fifty day moving average price of $33.49 and a 200 day moving average price of $32.93.

Persimmon Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, July 28th. Shareholders of record on Monday, June 23rd were given a dividend of $0.9997 per share. This represents a yield of 394.0%. This is a positive change from Persimmon's previous dividend of $0.48. The ex-dividend date was Friday, June 20th.

Persimmon Company Profile

Persimmon Plc, together with its subsidiaries, operates as a house builder in the United Kingdom. The company offers family housing under the Persimmon Homes brand name; housing under the Charles Church brand name; and social housing under the Westbury Partnerships brand name. It also provides broadband services under the FibreNest brand; and timber frame, insulated wall panels, and roof cassettes under the brand Space4.

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