Shares of IMI plc (LON:IMI – Get Free Report) hit a new 52-week low on Monday . The company traded as low as GBX 1,558 ($20.08) and last traded at GBX 1,591.27 ($20.51), with a volume of 4842244 shares. The stock had previously closed at GBX 1,686 ($21.73).
Wall Street Analyst Weigh In
Separately, Royal Bank of Canada increased their price objective on IMI from GBX 2,250 ($29.00) to GBX 2,400 ($30.94) and gave the stock an “outperform” rating in a research report on Monday, March 3rd.
Read Our Latest Research Report on IMI
IMI Price Performance
IMI (LON:IMI – Get Free Report) last posted its quarterly earnings results on Friday, February 28th. The company reported GBX 122.50 ($1.58) earnings per share (EPS) for the quarter. IMI had a net margin of 11.46% and a return on equity of 23.85%. Research analysts forecast that IMI plc will post 137.9737609 earnings per share for the current fiscal year.
IMI Increases Dividend
The company also recently announced a dividend, which will be paid on Friday, May 16th. Shareholders of record on Thursday, April 3rd will be issued a GBX 21.10 ($0.27) dividend. This is a positive change from IMI’s previous dividend of $10.00. The ex-dividend date is Thursday, April 3rd. This represents a yield of 1.04%. IMI’s dividend payout ratio is 29.72%.
Insider Activity
In other IMI news, insider Roy Twite sold 49,259 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of GBX 1,962 ($25.29), for a total value of £966,461.58 ($1,245,761.25). Insiders bought a total of 22 shares of company stock worth $42,388 over the last 90 days. 1.52% of the stock is currently owned by corporate insiders.
IMI Company Profile
IMI plc is a specialist engineering company operating in fluid and motion control markets. We combine our deep engineering knowledge with strong applications expertise to develop solutions for the most acute industry problems. We help our customers become safer, more sustainable and more productive. IMI employs around 10,000 people, has manufacturing facilities in 19 countries and operates a global service network.
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