Morgan Advanced Materials (LON:MGAM) Stock Passes Above 50 Day Moving Average of $252.02

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Morgan Advanced Materials PLC (LON:MGAM)’s stock price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $252.02 and traded as high as $266.00. Morgan Advanced Materials shares last traded at $263.40, with a volume of 71,613 shares trading hands.

MGAM has been the topic of a number of recent research reports. Jefferies Financial Group raised Morgan Advanced Materials to a “buy” rating and dropped their price target for the company from GBX 365 ($4.77) to GBX 320 ($4.18) in a research report on Wednesday, July 24th. Peel Hunt reissued a “buy” rating on shares of Morgan Advanced Materials in a report on Monday, July 22nd. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 330 ($4.31) price target on shares of Morgan Advanced Materials in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of GBX 316.43 ($4.13).

The firm has a market cap of $746.53 million and a PE ratio of 13.48. The stock has a 50 day simple moving average of GBX 252.54 and a 200-day simple moving average of GBX 260.89. The company has a debt-to-equity ratio of 116.38, a current ratio of 1.43 and a quick ratio of 0.91.

The firm also recently announced a dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 31st will be issued a GBX 4 ($0.05) dividend. This represents a dividend yield of 1.54%. The ex-dividend date is Thursday, October 31st. Morgan Advanced Materials’s payout ratio is 0.57%.

About Morgan Advanced Materials (LON:MGAM)

Morgan Advanced Materials plc operates as an advanced materials science and engineering company that focuses on ceramics, carbon, and composites primarily in the United Kingdom. The company offers high-temperature insulating fiber products, microporous products, firebricks, monolithic products, heat shields, fired refractory shapes, and structural block insulation products; crucibles, foundry products, and furnace industries furnace ranges; and seals and bearings, as well as general pump components, such as shafts, vanes, rotors, and washers.

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