Castings (LON:CGS) Shares Pass Below Two Hundred Day Moving Average - Time to Sell?

Castings P.L.C. (LON:CGS - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 320.86 ($4.08) and traded as low as GBX 254 ($3.23). Castings shares last traded at GBX 260 ($3.31), with a volume of 4,119 shares traded.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group cut their price objective on Castings from GBX 390 ($4.96) to GBX 340 ($4.32) and set a "buy" rating on the stock in a research note on Wednesday, November 13th.

Castings Trading Up 0.4 %

The company's fifty day moving average is GBX 279.15 and its 200-day moving average is GBX 320.86. The firm has a market capitalization of £113.43 million, a P/E ratio of 700.00 and a beta of 0.60.

Castings Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, November 21st will be issued a dividend of GBX 4.21 ($0.05) per share. The ex-dividend date is Thursday, November 21st. This represents a dividend yield of 1.51%. Castings's payout ratio is 4,736.84%.

Insider Activity

In other Castings news, insider Adam Vicary acquired 1,500 shares of Castings stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of GBX 267 ($3.39) per share, with a total value of £4,005 ($5,091.53). 21.35% of the stock is owned by company insiders.

Castings Company Profile

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.