Pete Raby Sells 52,587 Shares of Morgan Advanced Materials plc (LON:MGAM) Stock

Morgan Advanced Materials plc (LON:MGAM) insider Pete Raby sold 52,587 shares of the business’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of GBX 214 ($2.85), for a total transaction of £112,536.18 ($149,768.67).

Pete Raby also recently made the following trade(s):

• On Friday, April 4th, Pete Raby bought 13,500 shares of Morgan Advanced Materials stock. The stock was bought at an average price of GBX 182 ($2.42) per share, for a total transaction of £24,570 ($32,698.96).
• On Tuesday, March 25th, Pete Raby sold 48,253 shares of Morgan Advanced Materials stock. The shares were sold at an average price of GBX 204 ($2.71), for a total transaction of £98,436.12 ($131,003.62).

Morgan Advanced Materials Price Performance

Shares of LON:MGAM opened at GBX 214.90 ($2.86) on Friday. Morgan Advanced Materials plc has a fifty-two week low of GBX 171.20 ($2.28) and a fifty-two week high of GBX 347 ($4.62). The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 103.31. The company has a market cap of £605.77 million, a PE ratio of 8.84, a P/E/G ratio of 0.51 and a beta of 1.34. The firm has a 50-day simple moving average of GBX 197.94 and a 200 day simple moving average of GBX 238.25.

Morgan Advanced Materials (LON:MGAM) last posted its earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.34) EPS 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 EPS for the current year.

Morgan Advanced Materials Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, May 13th. Investors of record on Thursday, April 10th were paid a dividend of GBX 6.80 ($0.09) per share. The ex-dividend date was Thursday, April 10th. This is a positive change from Morgan Advanced Materials’s previous dividend of $5.40. This represents a yield of 3.17%. Morgan Advanced Materials’s dividend payout ratio is currently 49.39%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MGAM. Royal Bank of Canada cut their target price on shares of Morgan Advanced Materials from GBX 320 ($4.26) to GBX 265 ($3.53) and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Citigroup upped their target price on shares of Morgan Advanced Materials from GBX 325 ($4.33) to GBX 330 ($4.39) and gave the company a “buy” rating in a research note on Thursday, January 23rd.

About Morgan Advanced Materials

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.