Castings (LON:CGS) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Castings P.L.C. (LON:CGS)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 307.08 ($3.75) and traded as low as GBX 252 ($3.08). Castings shares last traded at GBX 264 ($3.22), with a volume of 29,313 shares traded.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lowered their price objective on shares of Castings from GBX 390 ($4.76) to GBX 340 ($4.15) and set a “buy” rating for the company in a research report on Wednesday, November 13th.

Castings Trading Down 2.9 %

The stock’s 50 day moving average is GBX 266.80 and its two-hundred day moving average is GBX 306.34. The stock has a market capitalization of £111.43 million, a price-to-earnings ratio of 674.74 and a beta of 0.60.

Castings Cuts Dividend

The company also recently disclosed a dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, November 21st were issued a dividend of GBX 4.21 ($0.05) per share. The ex-dividend date was Thursday, November 21st. This represents a dividend yield of 1.51%. Castings’s payout ratio is presently 4,736.84%.

Insider Buying and Selling at Castings

In other Castings news, insider Adam Vicary acquired 1,500 shares of Castings stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of GBX 267 ($3.26) per share, for a total transaction of £4,005 ($4,890.11). Company insiders own 21.35% of the company’s stock.

Castings Company Profile

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, 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.