Bellway (LON:BWY) Reaches New 1-Year High After Dividend Announcement

Bellway p.l.c. (LON:BWY) reached a new 52-week high on Tuesday following a dividend announcement from the company. The stock traded as high as GBX 3,280 ($42.83) and last traded at GBX 3,254 ($42.49), with a volume of 1267942 shares trading hands. The stock had previously closed at GBX 3,052 ($39.85).

The newly announced dividend which will be paid on Wednesday, January 8th. Stockholders of record on Thursday, November 28th will be given a dividend of GBX 38 ($0.50) per share. This represents a dividend yield of 1.15%. The ex-dividend date is Thursday, November 28th. This is a boost from Bellway’s previous dividend of $16.00. Bellway’s dividend payout ratio is 6,166.67%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BWY shares. Berenberg Bank boosted their target price on Bellway from GBX 2,900 ($37.87) to GBX 3,200 ($41.79) and gave the company a “hold” rating in a research report on Tuesday. Citigroup restated a “buy” rating and set a GBX 3,368 ($43.98) price objective on shares of Bellway in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Bellway in a research report on Friday, July 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 3,204.20 ($41.84).

Bellway Stock Down 0.6 %

The company has a market cap of £3.96 billion, a price-to-earnings ratio of 1,850.00, a price-to-earnings-growth ratio of 3.40 and a beta of 1.46. The company has a debt-to-equity ratio of 3.78, a quick ratio of 0.50 and a current ratio of 5.78. The stock’s fifty day moving average is GBX 3,061.58 and its two-hundred day moving average is GBX 2,794.54.

Insider Transactions at Bellway

In related news, insider Keith Adey sold 27,303 shares of Bellway stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of GBX 3,257 ($42.53), for a total transaction of £889,258.71 ($1,161,215.34). Company insiders own 3.73% of the company’s stock.

About Bellway

Bellway p.l.c., together with its subsidiaries, engages in the home building business in the United Kingdom. The company builds and sells homes ranging from one-bedroom apartments to six-bedroom family homes, as well as provides homes to housing associations for social housing. It offers homes under Bellway, Ashberry, and Bellway London brands.