Morgan Advanced Materials (LON:MGAM) Stock Passes Below 200-Day Moving Average of $280.33

Posted by on Sep 9th, 2023

Shares of Morgan Advanced Materials plc (LON:MGAM – Get Free Report) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 280.33 ($3.54) and traded as low as GBX 242.68 ($3.06). Morgan Advanced Materials shares last traded at GBX 245.50 ($3.10), with a volume of 246,746 shares changing hands.

Morgan Advanced Materials Stock Down 1.4 %

The company’s fifty day moving average price is GBX 264.88 and its 200-day moving average price is GBX 280.33. The stock has a market capitalization of £700.58 million, a PE ratio of 1,169.05, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. The company has a quick ratio of 1.26, a current ratio of 1.96 and a debt-to-equity ratio of 99.45.

Morgan Advanced Materials Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, November 17th. Investors of record on Thursday, October 26th will be given a dividend of GBX 5.30 ($0.07) per share. This represents a dividend yield of 1.95%. The ex-dividend date is Thursday, October 26th. Morgan Advanced Materials’s dividend payout ratio (DPR) is currently 5,714.29%.

Insider Activity at Morgan Advanced Materials

In other news, insider Laurence Mulliez purchased 175 shares of Morgan Advanced Materials stock in a transaction that occurred on Wednesday, July 12th. The stock was bought at an average price of GBX 272 ($3.44) per share, with a total value of £476 ($601.16). In related news, insider Pete Raby bought 2,084 shares of the business’s stock in a transaction on Tuesday, July 4th. The stock was acquired at an average price of GBX 275 ($3.47) per share, with a total value of £5,731 ($7,237.94). Also, insider Laurence Mulliez bought 175 shares of the business’s stock in a transaction on Wednesday, July 12th. The stock was bought at an average cost of GBX 272 ($3.44) per share, with a total value of £476 ($601.16). Insiders bought 22,259 shares of company stock valued at $5,720,700 over the last 90 days. Corporate insiders own 1.68% of the company’s stock.

Morgan Advanced Materials Company Profile

(Get Free Report)

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.

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