Castings P.L.C. (LON:CGS - Get Free Report) rose 3.1% during mid-day trading on Friday . The company traded as high as GBX 276 ($3.52) and last traded at GBX 264 ($3.36). Approximately 6,259 shares were traded during trading, a decline of 80% from the average daily volume of 30,984 shares. The stock had previously closed at GBX 256 ($3.26).
Analysts Set New Price Targets
Separately, Canaccord Genuity Group lowered their price objective on Castings from GBX 390 ($4.97) to GBX 340 ($4.33) and set a "buy" rating for the company in a research note on Wednesday, November 13th.
Check Out Our Latest Report on Castings
Castings Price Performance
The company has a 50-day moving average of GBX 284.11 and a two-hundred day moving average of GBX 326.28. The company has a market capitalization of £114.73 million, a PE ratio of 694.74 and a beta of 0.60.
Castings Cuts Dividend
The company also recently disclosed a dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, November 21st will be given a dividend of GBX 4.21 ($0.05) per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a dividend yield of 1.51%. Castings's payout ratio is 4,736.84%.
Insider Buying and Selling
In related news, insider Adam Vicary bought 1,500 shares of the stock in a transaction dated Friday, November 15th. The shares were purchased at an average price of GBX 267 ($3.40) per share, with a total value of £4,005 ($5,104.51). Also, insider Steve Mant purchased 3,307 shares of Castings stock in a transaction on Monday, September 9th. The stock was bought at an average price of GBX 301 ($3.84) per share, for a total transaction of £9,954.07 ($12,686.81). In the last quarter, insiders bought 8,307 shares of company stock valued at $2,445,907. Company 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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