Castings (LON:CGS) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Castings P.L.C. (LON:CGS)’s stock price crossed 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.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lowered their target price on shares of Castings from GBX 390 ($4.80) to GBX 340 ($4.19) and set a “buy” rating for the company in a report on Wednesday, November 13th.

Castings Trading Up 4.7 %

The stock has a market cap of £116.47 million, a PE ratio of 705.26 and a beta of 0.60. The business has a 50 day moving average of GBX 262.80 and a 200-day moving average of GBX 300.50.

Castings (LON:CGS) last announced its earnings results on Wednesday, November 13th. The company reported GBX 7.07 ($0.09) EPS for the quarter. Castings had a net margin of 7.45% and a return on equity of 12.59%. Research analysts expect that Castings P.L.C. will post 17.2492837 EPS for the current fiscal year.

Castings Cuts Dividend

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

Insider Buying and Selling

In other news, insider Adam Vicary acquired 1,500 shares of the business’s stock in a transaction on Friday, November 15th. The stock was bought at an average price of GBX 267 ($3.29) per share, for a total transaction of £4,005 ($4,930.44). Corporate insiders own 21.35% of the company’s stock.

Castings Company Profile

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.