Castings P.L.C. (LON:CGS - Get Free Report) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 311.01 ($3.85) and traded as low as GBX 256 ($3.17). Castings shares last traded at GBX 259.94 ($3.22), with a volume of 20,682 shares.
Wall Street Analysts Forecast Growth
Separately, Canaccord Genuity Group reduced their target price on shares of Castings from GBX 390 ($4.83) to GBX 340 ($4.21) and set a "buy" rating for the company in a report on Wednesday, November 13th.
Read Our Latest Report on Castings
Castings Trading Down 1.6 %
The firm has a 50 day moving average of GBX 269.81 and a 200-day moving average of GBX 311.01. The company has a market cap of £109.91 million, a P/E ratio of 665.53 and a beta of 0.60.
Castings Cuts Dividend
The business also recently announced a dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, November 21st will be paid a dividend of GBX 4.21 ($0.05) per share. The ex-dividend date is Thursday, November 21st. This represents a yield of 1.51%. Castings's payout ratio is 4,736.84%.
Insider Buying and Selling
In other news, insider Adam Vicary acquired 1,500 shares of the business's stock in a transaction on Friday, November 15th. The shares were acquired at an average price of GBX 267 ($3.30) per share, for a total transaction of £4,005 ($4,957.30). 21.35% of the stock is owned by company insiders.
About Castings
(
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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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