Morgan Advanced Materials (LON:MGAM) Hits New 12-Month High at $320.00

Shares of Morgan Advanced Materials plc (LON:MGAM) hit a new 52-week high on Wednesday . The stock traded as high as GBX 320 ($4.02) and last traded at GBX 314.86 ($3.96), with a volume of 51285 shares trading hands. The stock had previously closed at GBX 318.50 ($4.00).

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group downgraded Morgan Advanced Materials to a “hold” rating and set a GBX 315 ($3.96) price objective for the company. in a research report on Wednesday, January 31st.

Morgan Advanced Materials Stock Performance

The company has a debt-to-equity ratio of 89.51, a quick ratio of 1.26 and a current ratio of 2.06. The stock’s 50 day moving average price is GBX 289.34 and its 200 day moving average price is GBX 271.53. The company has a market capitalization of £936.56 million, a P/E ratio of 2,018.75, a price-to-earnings-growth ratio of 0.65 and a beta of 1.43.

Morgan Advanced Materials Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, May 17th. Shareholders of record on Thursday, April 25th will be given a dividend of GBX 6.70 ($0.08) per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a yield of 2.49%. This is a boost from Morgan Advanced Materials’s previous dividend of $5.30. Morgan Advanced Materials’s dividend payout ratio is 7,500.00%.

Insiders Place Their Bets

In other Morgan Advanced Materials news, insider Clement Woon bought 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were bought at an average price of GBX 266 ($3.34) per share, for a total transaction of £39,900 ($50,125.63). In related news, insider Pete Raby sold 4,156 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of GBX 285 ($3.58), for a total value of £11,844.60 ($14,880.15). Also, insider Clement Woon acquired 15,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was acquired at an average cost of GBX 266 ($3.34) per share, for a total transaction of £39,900 ($50,125.63). Company insiders own 1.40% of the company’s stock.

About Morgan Advanced Materials

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.