Castings (LON:CGS) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Castings P.L.C. (LON:CGS) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group decreased their price target 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 note on Wednesday, November 13th.

Castings Stock Performance

The firm has a market capitalization of £111.43 million, a P/E ratio of 674.74 and a beta of 0.60. The firm has a 50-day moving average of GBX 266.80 and a 200-day moving average of GBX 306.34.

Castings Cuts Dividend

The firm also recently announced a dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, November 21st were given a GBX 4.21 ($0.05) dividend. This represents a yield of 1.51%. The ex-dividend date of this dividend was Thursday, November 21st. Castings’s dividend payout ratio (DPR) is 4,736.84%.

Insider Transactions at Castings

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

About Castings

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.