Morgan Advanced Materials plc (LON:MGAM) Raises Dividend to GBX 6.70 Per Share

Morgan Advanced Materials plc (LON:MGAM) declared a dividend on Tuesday, March 12th, Upcoming.Co.Uk reports. Stockholders of record on Thursday, April 25th will be paid a dividend of GBX 6.70 ($0.08) per share on Friday, May 17th. This represents a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, April 25th. This is an increase from Morgan Advanced Materials’s previous dividend of $5.30. The official announcement can be viewed at this link.

Morgan Advanced Materials Stock Performance

Shares of Morgan Advanced Materials stock opened at GBX 304.50 ($3.76) on Wednesday. Morgan Advanced Materials has a 52 week low of GBX 215.50 ($2.66) and a 52 week high of GBX 313.50 ($3.87). The business’s fifty day simple moving average is GBX 278.06 and its 200-day simple moving average is GBX 265.53. The firm has a market cap of £868.95 million, a PE ratio of 1,865.63, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43. The company has a quick ratio of 1.26, a current ratio of 2.06 and a debt-to-equity ratio of 89.51.

Insider Buying and Selling

In related news, insider Pete Raby sold 4,156 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of GBX 285 ($3.52), for a total transaction of £11,844.60 ($14,630.19). In other news, insider Clement Woon bought 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were purchased at an average price of GBX 266 ($3.29) per share, with a total value of £39,900 ($49,283.60). Also, insider Pete Raby sold 4,156 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of GBX 285 ($3.52), for a total value of £11,844.60 ($14,630.19). 1.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lowered Morgan Advanced Materials to a “hold” rating and set a GBX 315 ($3.89) price target on the stock. in a research note on Wednesday, January 31st.

About Morgan Advanced Materials

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.