Castings (LON:CGS) Shares Pass Below 200 Day Moving Average – Here’s Why

Castings P.L.C. (LON:CGS) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 307.08 ($3.78) and traded as low as GBX 252 ($3.10). Castings shares last traded at GBX 264 ($3.25), with a volume of 29,313 shares.

Analyst Ratings Changes

Separately, Canaccord Genuity Group lowered their price objective on Castings from GBX 390 ($4.80) to GBX 340 ($4.18) and set a “buy” rating on the stock in a report on Wednesday, November 13th.

Castings Stock Up 2.3 %

The stock has a fifty day moving average of GBX 267.12 and a two-hundred day moving average of GBX 307.08. The stock has a market cap of £114.73 million, a price-to-earnings ratio of 694.74 and a beta of 0.60.

Castings Cuts Dividend

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

Insider Activity at Castings

In other news, insider Adam Vicary acquired 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of GBX 267 ($3.29) per share, with a total value of £4,005 ($4,928.02). 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.