The Weir Group (LON:WEIR) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

The Weir Group PLC (LON:WEIR)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 2,228.60 ($28.85) and traded as high as GBX 2,464 ($31.90). The Weir Group shares last traded at GBX 2,460 ($31.85), with a volume of 93,922,922 shares traded.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada raised their target price on shares of The Weir Group from GBX 2,500 ($32.37) to GBX 2,700 ($34.96) and gave the company an “outperform” rating in a research note on Monday, March 3rd.

The Weir Group Trading Down 1.3 %

The company has a market capitalization of £6.18 billion, a P/E ratio of 28.18, a PEG ratio of 2.59 and a beta of 1.41. The business has a 50 day moving average price of GBX 2,364.69 and a 200 day moving average price of GBX 2,232.09. The company has a current ratio of 2.07, a quick ratio of 1.16 and a debt-to-equity ratio of 80.30.

The Weir Group (LON:WEIR) last issued its earnings results on Friday, February 28th. The company reported GBX 120 ($1.55) EPS for the quarter. The Weir Group had a net margin of 8.60% and a return on equity of 12.79%. Analysts anticipate that The Weir Group PLC will post 136.0509554 EPS for the current year.

The Weir Group Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, April 17th will be issued a dividend of GBX 22.10 ($0.29) per share. The ex-dividend date is Thursday, April 17th. This is a positive change from The Weir Group’s previous dividend of $17.90. This represents a yield of 0.92%. The Weir Group’s payout ratio is currently 45.83%.

Insider Buying and Selling at The Weir Group

In other news, insider Brian Puffer sold 9,794 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of GBX 2,414 ($31.25), for a total value of £236,427.16 ($306,094.20). Insiders own 0.31% of the company’s stock.

About The Weir Group

The Weir Group PLC produces and sells highly engineered original equipment worldwide. It operates in two segments, Minerals and ESCO. The Minerals segment offers engineering, manufacturing, and service processing technology for the use in abrasive high-wear mining applications; and differentiated technology for the use in infrastructure and general industrial markets.