Castings (LON:CGS) Share Price Passes Below 200-Day Moving Average of $360.70

Shares of Castings P.L.C. (LON:CGS) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 360.70 ($4.64) and traded as low as GBX 343.44 ($4.42). Castings shares last traded at GBX 350 ($4.50), with a volume of 3,732 shares.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group dropped their price target on shares of Castings from GBX 550 ($7.07) to GBX 450 ($5.79) and set a “buy” rating for the company in a research note on Wednesday, June 12th.

Castings Stock Performance

The business’s fifty day moving average is GBX 369.69 and its two-hundred day moving average is GBX 360.70. The company has a market cap of £152.11 million, a P/E ratio of 1,000.00 and a beta of 0.55.

Castings Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 18th will be issued a dividend of GBX 14.19 ($0.18) per share. This is a positive change from Castings’s previous dividend of $4.13. The ex-dividend date is Thursday, July 18th. This represents a yield of 3.84%. Castings’s dividend payout ratio (DPR) is presently 5,142.86%.

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.