Victrex (LON:VCT) Shares Cross Above 200 Day Moving Average – Here’s Why

Victrex plc (LON:VCT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 975.40 ($12.27) and traded as high as GBX 985 ($12.39). Victrex shares last traded at GBX 953 ($11.99), with a volume of 104,328 shares traded.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank cut their price objective on Victrex from GBX 1,290 ($16.23) to GBX 1,170 ($14.72) and set a “hold” rating for the company in a research report on Wednesday, December 4th.

Victrex Price Performance

The company’s 50-day moving average price is GBX 1,031.06 and its two-hundred day moving average price is GBX 975.40. The company has a debt-to-equity ratio of 10.93, a current ratio of 4.39 and a quick ratio of 1.99. The company has a market capitalization of £838.30 million, a P/E ratio of 27.30, a price-to-earnings-growth ratio of 1.92 and a beta of 0.69.

Victrex (LON:VCT) last released its quarterly earnings results on Tuesday, December 24th. The company reported GBX 51.70 ($0.65) earnings per share for the quarter. Victrex had a net margin of 10.81% and a return on equity of 6.67%. As a group, sell-side analysts expect that Victrex plc will post 73.1078905 EPS for the current year.

Victrex Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, February 21st. Investors of record on Thursday, January 23rd will be paid a GBX 46.14 ($0.58) dividend. The ex-dividend date of this dividend is Thursday, January 23rd. This is an increase from Victrex’s previous dividend of $13.42. This represents a yield of 5.26%. Victrex’s payout ratio is 170.47%.

Insiders Place Their Bets

In other Victrex news, insider Ian Melling bought 2,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were purchased at an average price of GBX 1,135 ($14.28) per share, for a total transaction of £22,700 ($28,564.24). Also, insider Brendan Connolly purchased 980 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average price of GBX 1,019 ($12.82) per share, with a total value of £9,986.20 ($12,566.00). Company insiders own 1.64% of the company’s stock.

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.