Bellway (LON:BWY) Sets New 52-Week Low - Here's What Happened

Bellway p.l.c. (LON:BWY - Get Free Report) shares reached a new 52-week low on Friday . The company traded as low as GBX 2,356 ($29.27) and last traded at GBX 2,358 ($29.29), with a volume of 399457 shares changing hands. The stock had previously closed at GBX 2,430 ($30.19).

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BWY. Berenberg Bank increased their target price on shares of Bellway from GBX 2,900 ($36.02) to GBX 3,200 ($39.75) and gave the stock a "hold" rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. raised Bellway to an "overweight" rating in a research report on Thursday, December 5th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Bellway currently has a consensus rating of "Moderate Buy" and an average target price of GBX 3,204.20 ($39.80).

Bellway Stock Down 3.2 %

The stock's 50-day simple moving average is GBX 2,550.61 and its 200 day simple moving average is GBX 2,792.45. The company has a quick ratio of 0.50, a current ratio of 5.78 and a debt-to-equity ratio of 3.78. The firm has a market cap of £2.79 billion, a P/E ratio of 1,306.67, a PEG ratio of 3.40 and a beta of 1.46.

Bellway Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, January 8th. Investors of record on Thursday, November 28th will be given a dividend of GBX 38 ($0.47) per share. This represents a dividend yield of 1.15%. The ex-dividend date is Thursday, November 28th. This is an increase from Bellway's previous dividend of $16.00. Bellway's payout ratio is presently 6,166.67%.

Insider Buying and Selling at Bellway

In other news, insider Keith Adey sold 27,303 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of GBX 3,257 ($40.46), for a total value of £889,258.71 ($1,104,669.20). Also, insider Simon Scougall purchased 515 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The shares were purchased at an average price of GBX 2,528 ($31.40) per share, for a total transaction of £13,019.20 ($16,172.92). Insiders own 3.73% of the company's stock.

Bellway Company Profile

Bellway p.l.c., together with its subsidiaries, engages in the home building business in the United Kingdom. The company builds and sells homes ranging from one-bedroom apartments to six-bedroom family homes, as well as provides homes to housing associations for social housing. It offers homes under Bellway, Ashberry, and Bellway London brands.