Morgan Advanced Materials (LON:MGAM) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Morgan Advanced Materials plc (LON:MGAM) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 248.31 ($3.29) and traded as low as GBX 184.80 ($2.45). Morgan Advanced Materials shares last traded at GBX 186.60 ($2.47), with a volume of 619,087 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MGAM. Royal Bank of Canada lowered their target price on shares of Morgan Advanced Materials from GBX 320 ($4.24) to GBX 265 ($3.51) and set an “outperform” rating for the company in a research note on Monday, March 3rd. Citigroup raised their target price on shares of Morgan Advanced Materials from GBX 325 ($4.30) to GBX 330 ($4.37) and gave the stock a “buy” rating in a report on Thursday, January 23rd.

Morgan Advanced Materials Price Performance

The company has a market cap of £526.00 million, a P/E ratio of 7.68, a PEG ratio of 0.51 and a beta of 1.34. 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 company has a fifty day moving average price of GBX 222.14 and a two-hundred day moving average price of GBX 248.31.

Morgan Advanced Materials (LON:MGAM) last issued its earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.34) earnings per share for the quarter. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%. On average, sell-side analysts anticipate that Morgan Advanced Materials plc will post 32.5 earnings per share for the current fiscal year.

Morgan Advanced Materials Increases Dividend

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

Insiders Place Their Bets

In related news, insider Pete Raby acquired 13,500 shares of the stock in a transaction on Friday, April 4th. The shares were purchased at an average price of GBX 182 ($2.41) per share, for a total transaction of £24,570 ($32,517.20). Company 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.