Victrex (LON:VCT) Trading Up 14.5% Following Dividend Announcement

Victrex plc (LON:VCT - Get Free Report) shares traded up 14.5% on Tuesday after the company announced a dividend. The company traded as high as GBX 1,040 ($13.18) and last traded at GBX 1,003.99 ($12.72). 105,606 shares were traded during mid-day trading, a decline of 49% from the average session volume of 205,760 shares. The stock had previously closed at GBX 877 ($11.11).

The newly announced dividend which will be paid on Friday, February 21st. Investors of record on Thursday, January 23rd will be paid a dividend of GBX 46.14 ($0.58) per share. This represents a dividend yield of 5.26%. This is a positive change from Victrex's previous dividend of $13.42. The ex-dividend date is Thursday, January 23rd. Victrex's dividend payout ratio is presently 17,142.86%.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank dropped their price objective on Victrex from GBX 1,491 ($18.89) to GBX 1,290 ($16.35) and set a "hold" rating on the stock in a report on Wednesday, August 28th.

Victrex Price Performance

The company has a debt-to-equity ratio of 16.99, a current ratio of 5.30 and a quick ratio of 1.99. The company has a 50 day moving average price of GBX 888.82 and a 200 day moving average price of GBX 1,037.78. The firm has a market cap of £873.78 million, a PE ratio of 2,820.56, a PEG ratio of 1.92 and a beta of 0.69.

Insider Buying and Selling at Victrex

In other news, insider Brendan Connolly purchased 980 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The shares were acquired at an average price of GBX 1,019 ($12.91) per share, with a total value of £9,986.20 ($12,653.57). Also, insider Jane Toogood acquired 508 shares of the company's stock in a transaction that occurred on Tuesday, September 24th. The stock was purchased at an average cost of GBX 937 ($11.87) per share, with a total value of £4,759.96 ($6,031.37). In the last 90 days, insiders have acquired 3,591 shares of company stock valued at $3,474,569. 1.64% of the stock is owned by corporate insiders.

Victrex Company Profile

Victrex plc, through its subsidiaries, engages in the manufacture and sale of polymer solutions worldwide. The company operates through two segments, Sustainable Solutions and Medical. It develops PEEK and PAEK based polymer solutions, and semi-finished and finished parts. The company also provides specialist solutions for medical device manufacturers; sells thermoplastic polymers; sustainable solutions for energy and industrial, VAR, automotive, aerospace, and electronics markets; and engages in trading activities.