Morgan Advanced Materials plc (LON:MGAM – Get Free Report)’s share price hit a new 52-week high on Monday . The company traded as high as GBX 315 ($3.96) and last traded at GBX 315 ($3.96), with a volume of 526335 shares traded. The stock had previously closed at GBX 306 ($3.84).
Wall Street Analysts Forecast Growth
Separately, Jefferies Financial Group cut Morgan Advanced Materials to a “hold” rating and set a GBX 315 ($3.96) price objective for the company. in a research report on Wednesday, January 31st.
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Morgan Advanced Materials Price Performance
Morgan Advanced Materials Increases Dividend
The company also recently announced a dividend, which will be paid on Friday, May 17th. Stockholders of record on Thursday, April 25th will be given a GBX 6.70 ($0.08) dividend. This represents a dividend yield of 2.49%. The ex-dividend date is Thursday, April 25th. This is an increase from Morgan Advanced Materials’s previous dividend of $5.30. Morgan Advanced Materials’s dividend payout ratio (DPR) is 7,500.00%.
Insider Buying and Selling
In other Morgan Advanced Materials news, insider Clement Woon bought 15,000 shares of Morgan Advanced Materials stock in a transaction dated Tuesday, March 12th. The stock was acquired at an average cost of GBX 266 ($3.34) per share, for a total transaction of £39,900 ($50,119.33). In related news, insider Clement Woon purchased 15,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was acquired at an average cost of GBX 266 ($3.34) per share, for a total transaction of £39,900 ($50,119.33). Also, insider Pete Raby sold 4,156 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of GBX 285 ($3.58), for a total value of £11,844.60 ($14,878.28). 1.40% of the stock is owned by company insiders.
About Morgan Advanced Materials
Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.
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