Volex (LON:VLX) Shares Pass Above 200 Day Moving Average of $330.00

Volex plc (LON:VLX) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 330 ($4.36) and traded as high as GBX 330.50 ($4.37). Volex shares last traded at GBX 323 ($4.27), with a volume of 1,440,862 shares.

Wall Street Analyst Weigh In

Separately, Berenberg Bank restated a “buy” rating and set a GBX 400 ($5.28) price objective on shares of Volex in a research report on Monday, July 1st.

Volex Stock Down 0.3 %

The company has a debt-to-equity ratio of 54.77, a current ratio of 1.49 and a quick ratio of 1.04. The company has a market capitalization of £599.49 million, a P/E ratio of 2,067.74 and a beta of 1.04. The stock has a 50-day moving average price of GBX 351.50 and a 200-day moving average price of GBX 330.02.

Volex Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, August 30th. Investors of record on Thursday, July 25th were paid a dividend of GBX 2.80 ($0.04) per share. The ex-dividend date was Thursday, July 25th. This represents a yield of 0.79%. This is a boost from Volex’s previous dividend of $1.40. Volex’s dividend payout ratio (DPR) is currently 2,500.00%.

Insider Buying and Selling

In other Volex news, insider Nathaniel Rothschild bought 107,813 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The stock was acquired at an average price of GBX 355 ($4.69) per share, with a total value of £382,736.15 ($505,595.97). 32.77% of the stock is currently owned by insiders.

About Volex

Volex plc manufactures and supplies power products and cable assemblies in North America, Europe, and Asia. It provides integrated manufacturing services, such as PCB assembly, box build, and complex cable assemblies; electric vehicle charging solutions; cable harness and power products; copper interconnect cable and data transfer cable; and data center power cables and power cords.