Smiths Group (LON:SMIN) Sets New 52-Week High After Insider Buying Activity

Smiths Group plc (LON:SMIN) hit a new 52-week high during mid-day trading on Wednesday following insider buying activity. The stock traded as high as GBX 1,845 ($23.74) and last traded at GBX 1,681 ($21.63), with a volume of 2097427 shares. The stock had previously closed at GBX 1,522 ($19.59).

Specifically, insider Mark Seligman acquired 4,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were bought at an average cost of GBX 1,726 ($22.21) per share, with a total value of £69,040 ($88,843.13).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank began coverage on Smiths Group in a research note on Thursday, August 22nd. They set a “buy” rating and a GBX 1,850 ($23.81) price target on the stock.

Smiths Group Stock Performance

The company has a market capitalization of £5.81 billion, a P/E ratio of 2,320.83, a price-to-earnings-growth ratio of 0.35 and a beta of 0.66. The company has a debt-to-equity ratio of 29.84, a current ratio of 2.07 and a quick ratio of 1.29. The firm has a fifty day moving average price of GBX 1,669.18 and a 200-day moving average price of GBX 1,700.62.

Smiths Group Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 17th will be issued a GBX 30.20 ($0.39) dividend. The ex-dividend date is Thursday, October 17th. This is a positive change from Smiths Group’s previous dividend of $13.55. This represents a dividend yield of 1.66%. Smiths Group’s dividend payout ratio is currently 6,111.11%.

Smiths Group Company Profile

Smiths Group plc operates as a technology company in Americas, Europe, the Asia Pacific, and internationally. It operates through four divisions: John Crane, Smiths Detection, Flex-Tek, and Smiths Interconnect. The John Crane division offers mechanical seals, seal support systems, power transmission couplings, and specialized filtration systems.