Castings (LON:CGS) Share Price Crosses Above 50-Day Moving Average – Time to Sell?

Castings P.L.C. (LON:CGS) shares passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of GBX 263.56 ($3.24) and traded as high as GBX 267.28 ($3.29). Castings shares last traded at GBX 259 ($3.19), with a volume of 15,616 shares.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group cut their price objective on Castings from GBX 390 ($4.80) to GBX 340 ($4.19) and set a “buy” rating for the company in a research note on Wednesday, November 13th.

Castings Stock Performance

The company has a fifty day simple moving average of GBX 262.80 and a two-hundred day simple moving average of GBX 300.50. The firm has a market capitalization of £116.47 million, a PE ratio of 705.26 and a beta of 0.60.

Castings (LON:CGS) last issued its quarterly earnings data on Wednesday, November 13th. The company reported GBX 7.07 ($0.09) earnings per share (EPS) for the quarter. Castings had a net margin of 7.45% and a return on equity of 12.59%. On average, equities analysts anticipate that Castings P.L.C. will post 17.2492837 earnings per share for the current fiscal year.

Castings Cuts Dividend

The business also recently announced a dividend, which was paid on Thursday, January 2nd. Stockholders of record on Thursday, November 21st were paid a GBX 4.21 ($0.05) dividend. The ex-dividend date was Thursday, November 21st. This represents a dividend yield of 1.51%. Castings’s payout ratio is 4,736.84%.

Insider Activity at Castings

In other Castings news, insider Adam Vicary purchased 1,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost of GBX 267 ($3.29) per share, with a total value of £4,005 ($4,930.44). Company insiders own 21.35% of the company’s stock.

About Castings

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.