Castings (LON:CGS) Stock Passes Above 50 Day Moving Average of $377.73

Castings P.L.C. (LON:CGS)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of GBX 377.73 ($4.79) and traded as high as GBX 378 ($4.80). Castings shares last traded at GBX 368 ($4.67), with a volume of 7,002 shares trading hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lowered their price target on Castings from GBX 550 ($6.98) to GBX 450 ($5.71) and set a “buy” rating on the stock in a research report on Wednesday, June 12th.

Castings Stock Up 4.5 %

The business has a 50-day simple moving average of GBX 377.73 and a two-hundred day simple moving average of GBX 360.54. The stock has a market capitalization of £159.93 million, a P/E ratio of 1,051.43 and a beta of 0.55.

Castings Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, July 18th will be given a GBX 14.19 ($0.18) dividend. This represents a yield of 3.84%. This is a boost from Castings’s previous dividend of $4.13. The ex-dividend date is Thursday, July 18th. Castings’s dividend payout ratio is 5,142.86%.

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.