Castings (LON:CGS) Shares Pass Above Fifty Day Moving Average of $318.76 - Defense World

2022-07-23 02:46:13 By : Mr. Alin zheng

Posted by admin on Jul 21st, 2022

Castings P.L.C. (LON:CGS – Get Rating) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 318.76 ($3.81) and traded as high as GBX 340 ($4.06). Castings shares last traded at GBX 332 ($3.97), with a volume of 21,884 shares changing hands.

Separately, Canaccord Genuity Group restated a “buy” rating and set a GBX 530 ($6.34) target price on shares of Castings in a research note on Wednesday, May 4th.

The stock has a market capitalization of £140.26 million and a price-to-earnings ratio of 1,660.00. The company’s 50 day moving average is GBX 318.76 and its 200 day moving average is GBX 326.98.

The company also recently announced a dividend, which will be paid on Tuesday, July 26th. Stockholders of record on Thursday, June 23rd will be issued a GBX 15 ($0.18) dividend. This is an increase from Castings’s previous dividend of $12.57. This represents a dividend yield of 5.17%. The ex-dividend date is Thursday, June 23rd. Castings’s payout ratio is presently 76.75%.

In other Castings news, insider Brian J. Cooke bought 3,000 shares of the stock in a transaction dated Wednesday, June 15th. The shares were acquired at an average cost of GBX 309 ($3.69) per share, for a total transaction of £9,270 ($11,081.89). In related news, insider Steve Mant bought 3,100 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were acquired at an average price of GBX 318 ($3.80) per share, with a total value of £9,858 ($11,784.82). Also, insider Brian J. Cooke purchased 3,000 shares of the business’s stock in a transaction dated Wednesday, June 15th. The shares were bought at an average price of GBX 309 ($3.69) per share, with a total value of £9,270 ($11,081.89).

Castings P.L.C. engages in the iron casting and machining activities. It operates through Foundry Operations and Machining Operations segments. The company offers ductile iron, spheroidal graphite iron, austempered ductile iron, SiMo, grey iron, and Ni-resist castings. It also provides fertilising solution annealing, pearlitic quench and temper, temper softening, and austempering heat treatment services; automotive standard e-coat and powder coating, galvanising, plating, gas based surface treatment, and plastic and metal spray coating services; and assembly and insulation services.

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