Dowlais Group (LON:DWL) Trading Up 8.3% Following Dividend Announcement

Dowlais Group plc (LON:DWL) rose 8.3% on Wednesday after the company announced a dividend. The stock traded as high as GBX 64.10 ($0.82) and last traded at GBX 63.60 ($0.81). Approximately 5,727,169 shares traded hands during trading, a decline of 21% from the average daily volume of 7,226,506 shares. The stock had previously closed at GBX 58.70 ($0.75).

The newly announced dividend which will be paid on Friday, October 4th. Stockholders of record on Thursday, August 29th will be given a GBX 1.40 ($0.02) dividend. This represents a dividend yield of 2.28%. The ex-dividend date is Thursday, August 29th. Dowlais Group’s dividend payout ratio is currently -1,111.11%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Dowlais Group from GBX 100 ($1.28) to GBX 90 ($1.15) and set a “neutral” rating for the company in a research note on Monday, July 1st. Jefferies Financial Group decreased their target price on Dowlais Group from GBX 135 ($1.72) to GBX 110 ($1.40) and set a “buy” rating on the stock in a research report on Friday, July 12th.

Dowlais Group Stock Performance

The firm has a market cap of £871.32 million and a price-to-earnings ratio of -176.67. The business’s 50-day moving average is GBX 68.97 and its 200-day moving average is GBX 77.29.

Insider Buying and Selling at Dowlais Group

In related news, insider Roberto Fioroni acquired 83,925 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of GBX 59 ($0.75) per share, with a total value of £49,515.75 ($63,222.36). In other news, insider Celia Baxter acquired 26,566 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was purchased at an average cost of GBX 75 ($0.96) per share, with a total value of £19,924.50 ($25,439.86). Also, insider Roberto Fioroni bought 83,925 shares of Dowlais Group stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average cost of GBX 59 ($0.75) per share, for a total transaction of £49,515.75 ($63,222.36). Corporate insiders own 1.73% of the company’s stock.

About Dowlais Group

Dowlais Group Plc manufactures and sells automotive parts in the Americas, Europe, and Asia. The company engages in developing, manufacturing, and supplying automotive drive systems for conventional and electric vehicles. It manufactures sideshafts, propshafts, and constant velocity joints for passenger vehicles; and AWD systems and eDrive systems, as well as provides component solutions to systems, including control software.