Victrex (LON:VCT) Stock Price Up 14.5% Following Dividend Announcement

Victrex plc (LON:VCT)’s share price rose 14.5% during mid-day trading on Tuesday after the company announced a dividend. The stock traded as high as GBX 1,040 ($13.18) and last traded at GBX 1,003.99 ($12.72). Approximately 105,606 shares were traded during trading, a decline of 49% from the average daily volume of 205,760 shares. The stock had previously closed at GBX 877 ($11.11).

The newly announced dividend which will be paid on Friday, February 21st. Shareholders of record on Thursday, January 23rd will be paid a dividend of GBX 46.14 ($0.58) per share. The ex-dividend date of this dividend is Thursday, January 23rd. This is an increase from Victrex’s previous dividend of $13.42. This represents a dividend yield of 5.26%. Victrex’s dividend payout ratio (DPR) is 17,142.86%.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reduced their price target on Victrex from GBX 1,491 ($18.89) to GBX 1,290 ($16.35) and set a “hold” rating on the stock in a research report on Wednesday, August 28th.

Victrex Price Performance

The company has a debt-to-equity ratio of 16.99, a current ratio of 5.30 and a quick ratio of 1.99. The business has a 50 day moving average of GBX 888.82 and a 200 day moving average of GBX 1,037.78. The company has a market cap of £873.78 million, a PE ratio of 2,820.56, a price-to-earnings-growth ratio of 1.92 and a beta of 0.69.

Insider Activity

In related news, insider Brendan Connolly purchased 980 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average cost of GBX 1,019 ($12.91) per share, with a total value of £9,986.20 ($12,653.57). Also, insider Janet E. Ashdown purchased 2,103 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average price of GBX 951 ($12.05) per share, for a total transaction of £19,999.53 ($25,341.52). In the last 90 days, insiders have purchased 3,591 shares of company stock valued at $3,474,569. Corporate insiders own 1.64% of the company’s stock.

About Victrex

Victrex plc, through its subsidiaries, engages in the manufacture and sale of polymer solutions worldwide. The company operates through two segments, Sustainable Solutions and Medical. It develops PEEK and PAEK based polymer solutions, and semi-finished and finished parts. The company also provides specialist solutions for medical device manufacturers; sells thermoplastic polymers; sustainable solutions for energy and industrial, VAR, automotive, aerospace, and electronics markets; and engages in trading activities.