Shares of Genuit Group plc (LON:GEN – Get Free Report) dropped 0.5% during mid-day trading on Thursday . The company traded as low as GBX 421.50 ($5.21) and last traded at GBX 432 ($5.34). Approximately 749,504 shares were traded during mid-day trading, an increase of 91% from the average daily volume of 391,849 shares. The stock had previously closed at GBX 434 ($5.36).
Wall Street Analysts Forecast Growth
Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 480 ($5.93) price objective on shares of Genuit Group in a research note on Tuesday, March 12th.
Read Our Latest Analysis on GEN
Genuit Group Stock Performance
Genuit Group Increases Dividend
The business also recently disclosed a dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Thursday, May 2nd will be paid a dividend of GBX 8.30 ($0.10) per share. This is a boost from Genuit Group’s previous dividend of $4.10. This represents a yield of 2.06%. The ex-dividend date is Thursday, May 2nd. Genuit Group’s payout ratio is presently 8,000.00%.
Insider Buying and Selling at Genuit Group
In related news, insider Kevin Boyd purchased 11,872 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was bought at an average cost of GBX 419 ($5.18) per share, for a total transaction of £49,743.68 ($61,442.29). Company insiders own 3.01% of the company’s stock.
About Genuit Group
Genuit Group plc develops, manufactures, and sells water, climate, and ventilation management solutions in the United Kingdom, rest of the Europe, and internationally. The company operates through two segments, Residential Systems, and Commercial and Infrastructure Systems. It offers above and below ground drainage systems, rainwater solutions, and various plastic hot and cold plumbing products, as well as commercial ventilation, underfloor heating, hydronic filters, and plastic plumbing systems.
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