Morgan Advanced Materials plc (LON:MGAM) Increases Dividend to GBX 6.80 Per Share

Morgan Advanced Materials plc (LON:MGAM) declared a dividend on Friday, February 28th, DividendData.Co.Uk reports. Shareholders of record on Thursday, April 10th will be paid a dividend of GBX 6.80 ($0.09) per share on Tuesday, May 13th. This represents a yield of 3.17%. The ex-dividend date is Thursday, April 10th. This is a 25.9% increase from Morgan Advanced Materials’s previous dividend of $5.40. The official announcement can be seen at this link.

Morgan Advanced Materials Stock Performance

Shares of MGAM stock opened at GBX 185.60 ($2.36) on Tuesday. The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 103.31. Morgan Advanced Materials has a 52 week low of GBX 171.20 ($2.18) and a 52 week high of GBX 347 ($4.42). The firm has a 50 day moving average of GBX 235.47 and a 200-day moving average of GBX 253.26. The company has a market cap of £523.18 million, a price-to-earnings ratio of 7.64, a price-to-earnings-growth ratio of 0.51 and a beta of 1.34.

Morgan Advanced Materials (LON:MGAM) last posted its quarterly earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.32) earnings per share for the quarter. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%. On average, equities analysts forecast that Morgan Advanced Materials will post 32.5 earnings per share for the current year.

Wall Street Analyst Weigh In

MGAM has been the topic of several recent research reports. Citigroup increased their price target on Morgan Advanced Materials from GBX 325 ($4.14) to GBX 330 ($4.20) and gave the stock a “buy” rating in a report on Thursday, January 23rd. Royal Bank of Canada lowered their price objective on shares of Morgan Advanced Materials from GBX 320 ($4.07) to GBX 265 ($3.37) and set an “outperform” rating on the stock in a report on Monday, March 3rd.

Insider Activity at Morgan Advanced Materials

In other news, insider Pete Raby purchased 13,500 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of GBX 182 ($2.32) per share, with a total value of £24,570 ($31,275.46). 1.69% of the stock is owned by insiders.

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.