Morgan Advanced Materials (LON:MGAM) Reaches New 1-Year Low – Here’s What Happened

Morgan Advanced Materials plc (LON:MGAM) shares reached a new 52-week low on Thursday . The stock traded as low as GBX 193.80 ($2.52) and last traded at GBX 197.40 ($2.56), with a volume of 481692 shares. The stock had previously closed at GBX 198.80 ($2.58).

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MGAM. Citigroup boosted their target price on shares of Morgan Advanced Materials from GBX 325 ($4.22) to GBX 330 ($4.29) and gave the company a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada cut their target price on Morgan Advanced Materials from GBX 320 ($4.16) to GBX 265 ($3.44) and set an “outperform” rating on the stock in a research report on Monday, March 3rd.

Morgan Advanced Materials Stock Down 1.1 %

The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19. The firm’s 50 day moving average price is GBX 240.39 and its two-hundred day moving average price is GBX 255.33. The company has a market cap of £554.19 million, a P/E ratio of 8.09, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials (LON:MGAM) last posted its quarterly earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.33) earnings per share for the quarter. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%. Equities research analysts anticipate that Morgan Advanced Materials plc will post 32.5 EPS for the current fiscal year.

Morgan Advanced Materials Increases Dividend

The company also recently declared a dividend, which will be paid on Tuesday, May 13th. Investors of record on Thursday, April 10th will be paid a dividend of GBX 6.80 ($0.09) per share. This is an increase from Morgan Advanced Materials’s previous dividend of $5.40. This represents a yield of 3.17%. The ex-dividend date is Thursday, April 10th. Morgan Advanced Materials’s dividend payout ratio is 49.39%.

Insiders Place Their Bets

In other Morgan Advanced Materials news, insider Pete Raby sold 48,253 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of GBX 204 ($2.65), for a total transaction of £98,436.12 ($127,822.52). Corporate insiders own 1.69% of the company’s stock.

Morgan Advanced Materials Company Profile

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.