Morgan Advanced Materials (LON:MGAM) Hits New 52-Week High on Insider Buying Activity

Morgan Advanced Materials plc (LON:MGAM) shares hit a new 52-week high during trading on Wednesday after an insider bought additional shares in the company. The company traded as high as GBX 338 ($4.30) and last traded at GBX 326 ($4.14), with a volume of 230470 shares trading hands. The stock had previously closed at GBX 330.50 ($4.20).

Specifically, insider Pete Raby sold 4,156 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of GBX 285 ($3.62), for a total transaction of £11,844.60 ($15,054.14). In related news, insider Clement Woon purchased 15,000 shares of Morgan Advanced Materials stock in a transaction dated Tuesday, March 12th. The shares were bought at an average cost of GBX 266 ($3.38) per share, for a total transaction of £39,900 ($50,711.74). Also, insider Pete Raby sold 4,156 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of GBX 285 ($3.62), for a total transaction of £11,844.60 ($15,054.14). 1.44% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Jefferies Financial Group cut shares of Morgan Advanced Materials to a “hold” rating and set a GBX 315 ($4.00) target price on the stock. in a research note on Wednesday, January 31st.

Morgan Advanced Materials Trading Up 0.3 %

The company has a debt-to-equity ratio of 89.51, a quick ratio of 1.26 and a current ratio of 2.06. The firm has a market cap of £900.74 million, a price-to-earnings ratio of 1,971.88, a PEG ratio of 0.74 and a beta of 1.39. The business has a fifty day simple moving average of GBX 301.22 and a 200-day simple moving average of GBX 278.47.

Morgan Advanced Materials Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, May 17th. Stockholders of record on Thursday, April 25th were paid a GBX 6.70 ($0.09) dividend. The ex-dividend date was Thursday, April 25th. This represents a dividend yield of 2.49%. This is an increase from Morgan Advanced Materials’s previous dividend of $5.30. Morgan Advanced Materials’s dividend payout ratio is currently 7,500.00%.

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.