The Weir Group (LON:WEIR) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of The Weir Group PLC (LON:WEIR) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,034.56 ($26.42) and traded as high as GBX 2,136 ($27.73). The Weir Group shares last traded at GBX 2,109.52 ($27.39), with a volume of 458,822 shares.

Wall Street Analysts Forecast Growth

WEIR has been the subject of a number of research analyst reports. Berenberg Bank dropped their target price on shares of The Weir Group from GBX 2,600 ($33.76) to GBX 2,450 ($31.81) and set a “buy” rating for the company in a report on Tuesday, August 6th. Royal Bank of Canada raised their price objective on The Weir Group from GBX 2,475 ($32.13) to GBX 2,500 ($32.46) and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Shore Capital reaffirmed a “buy” rating on shares of The Weir Group in a report on Tuesday, August 20th.

The Weir Group Stock Down 1.8 %

The company has a quick ratio of 1.16, a current ratio of 2.07 and a debt-to-equity ratio of 79.85. The firm’s fifty day simple moving average is GBX 2,056.85 and its 200-day simple moving average is GBX 2,034.56. The company has a market cap of £5.45 billion, a PE ratio of 2,481.78, a P/E/G ratio of 2.59 and a beta of 1.41.

The Weir Group Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 3rd will be issued a dividend of GBX 17.90 ($0.23) per share. This represents a yield of 0.93%. The ex-dividend date of this dividend is Thursday, October 3rd. The Weir Group’s dividend payout ratio (DPR) is presently 4,588.24%.

Insider Transactions at The Weir Group

In related news, insider Nick Anderson acquired 3,100 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average price of GBX 1,959 ($25.43) per share, with a total value of £60,729 ($78,848.35). Insiders own 0.31% of the company’s stock.

The Weir Group Company Profile

The Weir Group PLC produces and sells highly engineered original equipment worldwide. It operates in two segments, Minerals and ESCO. The Minerals segment offers engineering, manufacturing, and service processing technology for the use in abrasive high-wear mining applications; and differentiated technology for the use in infrastructure and general industrial markets.