MJ Gleeson (LON:GLE) Given Buy Rating at Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of MJ Gleeson (LON:GLE) in a research report report published on Wednesday morning, Marketbeat reports. They currently have a GBX 643 ($8.49) price objective on the stock.

MJ Gleeson Stock Down 2.6 %

GLE stock opened at GBX 592 ($7.82) on Wednesday. The stock has a market capitalization of £345.61 million, a P/E ratio of 2,041.38 and a beta of 1.14. The firm has a 50-day simple moving average of GBX 588.40 and a 200-day simple moving average of GBX 548.05. The company has a quick ratio of 0.89, a current ratio of 4.61 and a debt-to-equity ratio of 8.37. MJ Gleeson has a 52 week low of GBX 381 ($5.03) and a 52 week high of GBX 630 ($8.32).

MJ Gleeson Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be given a dividend of GBX 7 ($0.09) per share. The ex-dividend date of this dividend is Thursday, October 24th. This is a positive change from MJ Gleeson’s previous dividend of $4.00. This represents a yield of 1.25%. MJ Gleeson’s payout ratio is presently 4,482.76%.

Insider Buying and Selling

In related news, insider Christopher H. B. Mills sold 200,000 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of GBX 600 ($7.93), for a total transaction of £1,200,000 ($1,585,204.76). 16.93% of the stock is currently owned by company insiders.

MJ Gleeson Company Profile

MJ Gleeson plc engages in low-cost house building and land promotion activities in the United Kingdom. The company operates through two divisions, Gleeson Homes and Gleeson Land. It also engages in the house building activities in the north of England and Midlands; and sale of land in the south of England.