Morgan Advanced Materials (LON:MGAM) Trading Down 0.6% – Here’s Why

Morgan Advanced Materials plc (LON:MGAM) dropped 0.6% on Tuesday . The stock traded as low as GBX 194.60 ($2.59) and last traded at GBX 195.80 ($2.60). Approximately 330,151 shares changed hands during trading, a decline of 81% from the average daily volume of 1,766,887 shares. The stock had previously closed at GBX 197 ($2.62).

Wall Street Analyst Weigh In

MGAM has been the subject of several recent analyst reports. Citigroup upped their price target on Morgan Advanced Materials from GBX 325 ($4.32) to GBX 330 ($4.39) and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Royal Bank of Canada lowered their price target on Morgan Advanced Materials from GBX 320 ($4.25) to GBX 265 ($3.52) and set an “outperform” rating on the stock in a report on Monday, March 3rd.

Morgan Advanced Materials Stock Down 0.9 %

The firm has a 50-day moving average of GBX 200.12 and a two-hundred day moving average of GBX 240.78. The firm has a market cap of £550.24 million, a price-to-earnings ratio of 8.03, a PEG ratio of 0.51 and a beta of 1.34. The company has a current ratio of 2.19, a quick ratio of 1.26 and a debt-to-equity ratio of 103.31.

Morgan Advanced Materials (LON:MGAM) last issued its quarterly earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.34) EPS for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. As a group, sell-side analysts predict that Morgan Advanced Materials plc will post 32.5 earnings per share for the current fiscal year.

Morgan Advanced Materials Increases Dividend

The company also recently declared a dividend, which will be paid on Tuesday, May 13th. Investors of record on Thursday, April 10th will be paid a dividend of GBX 6.80 ($0.09) per share. This represents a yield of 3.17%. This is a positive change from Morgan Advanced Materials’s previous dividend of $5.40. The ex-dividend date of this dividend is Thursday, April 10th. Morgan Advanced Materials’s payout ratio is currently 49.39%.

Insiders Place Their Bets

In related news, insider Pete Raby bought 13,500 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of GBX 182 ($2.42) per share, for a total transaction of £24,570 ($32,659.84). Corporate insiders own 1.69% of the company’s stock.

Morgan Advanced Materials Company Profile

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.