Castings (LON:CGS) Share Price Passes Above Fifty Day Moving Average of $377.73

Castings P.L.C. (LON:CGS) passed above its fifty day moving average during trading on Friday . The stock has a fifty 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.

Wall Street Analysts Forecast Growth

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

Castings Trading Up 4.5 %

The company has a market cap of £159.93 million, a price-to-earnings ratio of 1,051.43 and a beta of 0.55. The business has a fifty day moving average of GBX 377.73 and a two-hundred day moving average of GBX 360.49.

Castings Increases Dividend

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

Castings Company Profile

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.