Melrose Industries PLC (LON:MRO – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 672.20 ($8.49) and last traded at GBX 667.60 ($8.44), with a volume of 2794728 shares traded. The stock had previously closed at GBX 668.56 ($8.45).
Wall Street Analysts Forecast Growth
Separately, Numis Securities reaffirmed an “add” rating and set a GBX 640 ($8.09) target price on shares of Melrose Industries in a research report on Friday, March 8th.
Read Our Latest Research Report on MRO
Melrose Industries Stock Performance
Melrose Industries Increases Dividend
The company also recently disclosed a dividend, which will be paid on Wednesday, May 8th. Investors of record on Thursday, March 28th will be issued a GBX 3.50 ($0.04) dividend. This is a positive change from Melrose Industries’s previous dividend of $1.50. This represents a yield of 0.55%. The ex-dividend date of this dividend is Thursday, March 28th. Melrose Industries’s payout ratio is currently -25,000.00%.
Insider Activity at Melrose Industries
In other news, insider Matthew Gregory acquired 16,670 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was purchased at an average cost of GBX 596 ($7.53) per share, with a total value of £99,353.20 ($125,556.93). 2.96% of the stock is owned by corporate insiders.
About Melrose Industries
Melrose Industries PLC, together with its subsidiaries, engages in the aerospace, automotive, powder metallurgy, and other industrial businesses in the United Kingdom, rest of Europe, North America, and internationally. Its Aerospace segment provides airframe and engine structures, and electrical interconnection systems for the aerospace industry in civil airframe and defense platforms.
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