Forterra plc (LON:FORT) Announces Dividend Increase – GBX 2 Per Share

Forterra plc (LON:FORT) announced a dividend on Wednesday, March 12th, DividendData.Co.Uk reports. Shareholders of record on Thursday, June 12th will be paid a dividend of GBX 2 ($0.03) per share on Friday, July 4th. This represents a yield of 1.24%. The ex-dividend date is Thursday, June 12th. This is a 100.0% increase from Forterra’s previous dividend of $1.00. The official announcement can be viewed at this link.

Forterra Stock Up 1.5%

Forterra stock opened at GBX 199.10 ($2.70) on Tuesday. Forterra has a fifty-two week low of GBX 150 ($2.03) and a fifty-two week high of GBX 200.50 ($2.72). The company has a debt-to-equity ratio of 59.58, a quick ratio of 0.82 and a current ratio of 1.79. The company has a market capitalization of £408.91 million, a P/E ratio of 51.91, a PEG ratio of 0.30 and a beta of 1.25. The stock has a 50-day simple moving average of GBX 183.73 and a 200-day simple moving average of GBX 171.10.

Forterra (LON:FORT) last posted its earnings results on Wednesday, March 12th. The company reported GBX 7.60 ($0.10) earnings per share for the quarter. Forterra had a return on equity of 3.76% and a net margin of 2.46%. Equities research analysts expect that Forterra will post 11.9888346 earnings per share for the current year.

Analysts Set New Price Targets

FORT has been the topic of several recent analyst reports. Royal Bank of Canada boosted their target price on Forterra from GBX 210 ($2.85) to GBX 220 ($2.98) and gave the stock an “outperform” rating in a research report on Thursday, March 13th. Deutsche Bank Aktiengesellschaft upped their price target on Forterra from GBX 260 ($3.52) to GBX 320 ($4.34) and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a GBX 170 ($2.30) target price on shares of Forterra in a research note on Wednesday, March 12th.

Insider Buying and Selling

In other Forterra news, insider Ben Guyatt sold 37,622 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of GBX 157 ($2.13), for a total value of £59,066.54 ($80,046.81). Also, insider Katherine Innes purchased 2,600 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was bought at an average cost of GBX 173 ($2.34) per share, for a total transaction of £4,498 ($6,095.68). Insiders own 6.91% of the company’s stock.

Forterra Company Profile

Forterra is a leading UK manufacturer of essential clay and concrete building products, with a unique combination of strong market positions in clay bricks, concrete blocks and precast concrete flooring. Our heritage dates back many decades and the durability, longevity and inherent sustainability of our products is evident in the construction of buildings that last for generations; wherever you are in Britain, you won’t be far from a building with a Forterra product within its fabric.

Our clay brick business combines our extensive secure mineral reserves with modern and efficient high-volume manufacturing processes to produce large quantities of extruded and soft mud bricks, primarily for the new build housing market.