Castings (LON:CGS) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Castings P.L.C. (LON:CGS)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 307.08 ($3.78) and traded as low as GBX 252 ($3.10). Castings shares last traded at GBX 264 ($3.25), with a volume of 29,313 shares changing hands.

Analyst Ratings Changes

Separately, Canaccord Genuity Group dropped their target price on shares of Castings from GBX 390 ($4.80) to GBX 340 ($4.18) and set a “buy” rating on the stock in a report on Wednesday, November 13th.

Castings Stock Performance

The company has a market capitalization of £114.73 million, a P/E ratio of 694.74 and a beta of 0.60. The company has a 50-day simple moving average of GBX 267.12 and a 200 day simple moving average of GBX 307.08.

Castings Cuts Dividend

The business also recently announced a dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, November 21st were paid a dividend of GBX 4.21 ($0.05) per share. This represents a yield of 1.51%. The ex-dividend date was Thursday, November 21st. Castings’s payout ratio is currently 4,736.84%.

Insider Buying and Selling at Castings

In other news, insider Adam Vicary acquired 1,500 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were bought at an average price of GBX 267 ($3.29) per share, with a total value of £4,005 ($4,928.02). Insiders own 21.35% of the company’s stock.

Castings Company Profile

Castings P.L.C. engages in the iron casting and machining activities. It operates through Foundry Operations and Machining Operations segments. The company offers ductile iron, spheroidal graphite iron, austempered ductile iron, SiMo, and Ni-resist castings. It also provides fertilising solution annealing, pearlitic quench and temper, temper softening, and austempering heat treatment services; automotive standard e-coat and powder coating, galvanising, plating, gas based surface treatment, and plastic and metal spray coating services; and assembly and insulation services.