Castings (LON:CGS) Shares Cross Above 50-Day Moving Average – Should You Sell?

Castings P.L.C. (LON:CGS)’s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 263.63 ($3.30) and traded as high as GBX 278 ($3.48). Castings shares last traded at GBX 270 ($3.38), with a volume of 858 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group dropped their target price on shares of Castings from GBX 390 ($4.88) to GBX 340 ($4.25) and set a “buy” rating for the company in a report on Wednesday, November 13th.

Castings Trading Up 3.0 %

The company’s fifty day moving average is GBX 263.63 and its two-hundred day moving average is GBX 292.85. The stock has a market cap of £120.82 million, a price-to-earnings ratio of 731.58 and a beta of 0.60.

Castings (LON:CGS) last issued its quarterly earnings results on Wednesday, November 13th. The company reported GBX 7.07 ($0.09) EPS for the quarter. Castings had a net margin of 7.45% and a return on equity of 12.59%. Analysts predict that Castings P.L.C. will post 17.2492837 EPS for the current year.

Castings Cuts Dividend

The firm also recently declared a dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, November 21st were given a GBX 4.21 ($0.05) dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a yield of 1.51%. Castings’s dividend payout ratio is presently 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 stock was acquired at an average cost of GBX 267 ($3.34) per share, with a total value of £4,005 ($5,006.88). 21.35% of the stock is currently owned by corporate insiders.

About Castings

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.