The Weir Group (LON:WEIR) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Shares of The Weir Group PLC (LON:WEIR) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 2,228.60 ($28.85) and traded as high as GBX 2,464 ($31.90). The Weir Group shares last traded at GBX 2,460 ($31.85), with a volume of 93,922,922 shares traded.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada raised their price objective on The Weir Group from GBX 2,500 ($32.37) to GBX 2,700 ($34.96) and gave the company an “outperform” rating in a report on Monday, March 3rd.

The Weir Group Price Performance

The stock has a market capitalization of £6.18 billion, a price-to-earnings ratio of 28.18, a P/E/G ratio of 2.59 and a beta of 1.41. The company’s 50-day simple moving average is GBX 2,364.69 and its 200-day simple moving average is GBX 2,232.09. The company has a debt-to-equity ratio of 80.30, a current ratio of 2.07 and a quick ratio of 1.16.

The Weir Group (LON:WEIR) last released its quarterly earnings results on Friday, February 28th. The company reported GBX 120 ($1.55) earnings per share for the quarter. The Weir Group had a return on equity of 12.79% and a net margin of 8.60%. Research analysts forecast that The Weir Group PLC will post 136.0509554 earnings per share for the current fiscal year.

The Weir Group Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, April 17th will be paid a GBX 22.10 ($0.29) dividend. The ex-dividend date is Thursday, April 17th. This is an increase from The Weir Group’s previous dividend of $17.90. This represents a dividend yield of 0.92%. The Weir Group’s dividend payout ratio is 45.83%.

Insiders Place Their Bets

In related news, insider Brian Puffer sold 9,794 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of GBX 2,414 ($31.25), for a total transaction of £236,427.16 ($306,094.20). Corporate insiders own 0.31% of the company’s stock.

About The Weir Group

The Weir Group PLC produces and sells highly engineered original equipment worldwide. It operates in two segments, Minerals and ESCO. The Minerals segment offers engineering, manufacturing, and service processing technology for the use in abrasive high-wear mining applications; and differentiated technology for the use in infrastructure and general industrial markets.