Melrose Industries (LON:MRO) Hits New 12-Month Low - Here's What Happened

Melrose Industries PLC (LON:MRO - Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as GBX 429 ($5.61) and last traded at GBX 433.20 ($5.67), with a volume of 9811294 shares changing hands. The stock had previously closed at GBX 447.10 ($5.85).

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MRO. Deutsche Bank Aktiengesellschaft lowered their target price on Melrose Industries from GBX 675 ($8.83) to GBX 560 ($7.33) and set a "hold" rating for the company in a research report on Friday, September 13th. Morgan Stanley began coverage on Melrose Industries in a research report on Friday, September 6th. They set an "equal weight" rating and a GBX 500 ($6.54) target price for the company. Finally, Royal Bank of Canada upgraded Melrose Industries to an "outperform" rating and set a GBX 650 ($8.51) target price for the company in a research report on Monday, July 8th.

Melrose Industries Stock Performance

The company has a market capitalization of £5.61 billion, a P/E ratio of -14,606.67, a P/E/G ratio of 0.48 and a beta of 1.51. The business has a 50-day moving average of GBX 488.56 and a 200-day moving average of GBX 569.60. The company has a debt-to-equity ratio of 44.03, a current ratio of 0.86 and a quick ratio of 0.45.

Melrose Industries Cuts Dividend

The business also recently declared a dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 8th were given a GBX 2 ($0.03) dividend. The ex-dividend date was Thursday, August 8th. This represents a yield of 0.34%. Melrose Industries's dividend payout ratio is presently -20,000.00%.

Insider Buying and Selling

In related news, insider Gillian Elcock purchased 3,680 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of GBX 453 ($5.93) per share, for a total transaction of £16,670.40 ($21,817.04). In other Melrose Industries news, insider Gillian Elcock bought 3,680 shares of the firm's stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of GBX 453 ($5.93) per share, for a total transaction of £16,670.40 ($21,817.04). Also, insider Matthew Gregory bought 9,740 shares of the firm's stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of GBX 510 ($6.67) per share, with a total value of £49,674 ($65,009.82). 1.00% of the stock is owned by corporate insiders.

About Melrose Industries

Melrose Industries PLC, together with its subsidiaries, provides aerospace components and systems to civil and defence markets in the United Kingdom, rest of Europe, North America, and internationally. The company operates through two segments, Engines and Structures. The Engines segment offers structural engineered components; parts repair; and commercial and aftermarket contracts to engines original equipment manufacturers.