Ultimate Products (LON:ULTP) Shares Down 2.6% - Here's What Happened

Ultimate Products Plc (LON:ULTP - Get Free Report) shares fell 2.6% during trading on Thursday . The stock traded as low as GBX 63 ($0.84) and last traded at GBX 63 ($0.84). 250,281 shares traded hands during mid-day trading, an increase of 38% from the average session volume of 181,158 shares. The stock had previously closed at GBX 64.70 ($0.86).

Wall Street Analysts Forecast Growth

ULTP has been the topic of a number of recent research reports. Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 130 ($1.73) price objective on shares of Ultimate Products in a research report on Tuesday, March 25th. Shore Capital restated a "house stock" rating on shares of Ultimate Products in a report on Friday, April 25th.

Ultimate Products Stock Performance

The stock has a market cap of £54.14 million, a PE ratio of 5.24 and a beta of 1.39. The firm has a fifty day moving average price of GBX 71.67 and a 200 day moving average price of GBX 100.14.

Ultimate Products (LON:ULTP - Get Free Report) last issued its quarterly earnings results on Tuesday, March 25th. The company reported GBX 4.30 ($0.06) earnings per share for the quarter. Ultimate Products had a return on equity of 21.95% and a net margin of 6.77%. On average, equities research analysts forecast that Ultimate Products Plc will post 14.53125 earnings per share for the current year.

Ultimate Products Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, June 27th. Shareholders of record on Thursday, May 29th will be paid a dividend of GBX 1.55 ($0.02) per share. The ex-dividend date is Thursday, May 29th. This represents a yield of 2.16%. Ultimate Products's payout ratio is 57.44%.

About Ultimate Products

Ultimate Products is the owner of a number of leading homeware brands including Salter (the UK's oldest houseware brand, established in 1760) and Beldray (a laundry, floor care, heating and cooling brand that was established in 1872). According to its market research, nearly 80% of UK households own at least one of the Group's products. Ultimate Products sells to over 300 retailers across 38 countries, and specialises in five product categories: Small Domestic Appliances; Housewares; Laundry; Audio; and Heating and Cooling.