Shares of Castings P.L.C. (LON:CGS - Get Free Report) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 315.85 ($3.96) and traded as low as GBX 254 ($3.19). Castings shares last traded at GBX 265.90 ($3.34), with a volume of 235,716 shares.
Wall Street Analyst Weigh In
Separately, Canaccord Genuity Group cut their price objective on Castings from GBX 390 ($4.89) to GBX 340 ($4.26) and set a "buy" rating for the company in a research note on Wednesday, November 13th.
Get Our Latest Stock Analysis on Castings
Castings Stock Performance
The company has a 50 day moving average of GBX 273.94 and a 200 day moving average of GBX 315.85. The stock has a market capitalization of £115.56 million, a price-to-earnings ratio of 699.74 and a beta of 0.60.
Castings Cuts Dividend
The firm also recently announced a dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, November 21st will be given a GBX 4.21 ($0.05) dividend. This represents a dividend yield of 1.51%. The ex-dividend date is Thursday, November 21st. Castings's dividend payout ratio (DPR) is 4,736.84%.
Insider Transactions at Castings
In related news, insider Adam Vicary acquired 1,500 shares of the stock in a transaction on Friday, November 15th. The shares were bought at an average price of GBX 267 ($3.35) per share, with a total value of £4,005 ($5,023.20). Insiders own 21.35% of the company's stock.
Castings Company Profile
(
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Castings P.L.C. engages in the iron casting and machining activities. It operates through Foundry Operations and Machining Operations segments. The company offers ductile iron, spheroidal graphite iron, austempered ductile iron, SiMo, and Ni-resist castings. It also provides fertilising solution annealing, pearlitic quench and temper, temper softening, and austempering heat treatment services; automotive standard e-coat and powder coating, galvanising, plating, gas based surface treatment, and plastic and metal spray coating services; and assembly and insulation services.
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