Morgan Advanced Materials plc (LON:MGAM) Plans Dividend of GBX 6.80

Morgan Advanced Materials plc (LON:MGAM) declared a dividend on Friday, February 28th, DividendData.Co.Uk reports. Shareholders of record on Thursday, April 10th will be paid a dividend of GBX 6.80 ($0.09) per share on Tuesday, May 13th. This represents a yield of 3.17%. The ex-dividend date of this dividend is Thursday, April 10th. This is a 25.9% increase from Morgan Advanced Materials’s previous dividend of $5.40. The official announcement can be accessed at this link.

Morgan Advanced Materials Trading Up 4.4 %

MGAM opened at GBX 185.16 ($2.36) on Tuesday. The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 103.31. The stock has a market capitalization of £521.94 million, a price-to-earnings ratio of 7.62, a P/E/G ratio of 0.51 and a beta of 1.34. The company has a 50-day simple moving average of GBX 235.47 and a 200 day simple moving average of GBX 253.26. Morgan Advanced Materials has a twelve month low of GBX 171.20 ($2.18) and a twelve month high of GBX 347 ($4.42).

Morgan Advanced Materials (LON:MGAM) last issued its earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.32) earnings per share (EPS) for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. Analysts predict that Morgan Advanced Materials will post 32.5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Pete Raby sold 48,253 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of GBX 204 ($2.60), for a total value of £98,436.12 ($125,300.56). 1.69% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MGAM has been the subject of a number of analyst reports. Royal Bank of Canada lowered their price target on Morgan Advanced Materials from GBX 320 ($4.07) to GBX 265 ($3.37) and set an “outperform” rating for the company in a research report on Monday, March 3rd. Citigroup raised their price target on Morgan Advanced Materials from GBX 325 ($4.14) to GBX 330 ($4.20) and gave the stock a “buy” rating in a report on Thursday, January 23rd.

Morgan Advanced Materials Company Profile

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.