Persimmon (LON:PSN) Hits New 52-Week High - Here's What Happened

Persimmon Plc (LON:PSN - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 1,721.80 ($22.48) and last traded at GBX 1,720 ($22.46), with a volume of 1477423 shares traded. The stock had previously closed at GBX 1,662 ($21.70).

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of Persimmon in a research note on Friday, July 5th.

Persimmon Trading Up 3.5 %

The business has a 50-day moving average of GBX 1,634.91 and a 200 day moving average of GBX 1,487.98. The stock has a market cap of £5.50 billion, a PE ratio of 2,150.00, a PEG ratio of 0.83 and a beta of 1.37. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.04 and a current ratio of 4.09.

Persimmon Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, November 8th. Shareholders of record on Thursday, October 17th will be paid a dividend of GBX 20 ($0.26) per share. The ex-dividend date is Thursday, October 17th. This represents a dividend yield of 1.3%. Persimmon's dividend payout ratio is currently 7,500.00%.

Insider Activity

In other Persimmon news, insider Andrew Duxbury sold 5,955 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of GBX 1,663 ($21.72), for a total transaction of £99,031.65 ($129,317.90). Company insiders own 3.01% of the company's stock.

Persimmon Company Profile

Persimmon Plc, together with its subsidiaries, operates as a house builder in the United Kingdom. The company offers family housing under the Persimmon Homes brand name; housing under the Charles Church brand name; and social housing under the Westbury Partnerships brand name. It also provides broadband services under the FibreNest brand; and timber frame, insulated wall panels, and roof cassettes under the brand Space4.