Castings (LON:CGS) Stock Crosses Below 200-Day Moving Average – Should You Sell?

Castings P.L.C. (LON:CGS) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 311.01 ($3.89) and traded as low as GBX 256 ($3.20). Castings shares last traded at GBX 259.94 ($3.25), with a volume of 20,682 shares.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reduced their price target on shares of Castings from GBX 390 ($4.88) to GBX 340 ($4.25) and set a “buy” rating on the stock in a research note on Wednesday, November 13th.

Castings Price Performance

The stock has a market cap of £112.97 million, a PE ratio of 684.05 and a beta of 0.60. The business has a fifty day moving average of GBX 269.81 and a 200-day moving average of GBX 311.01.

Castings Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, November 21st will be issued a GBX 4.21 ($0.05) dividend. This represents a dividend yield of 1.51%. The ex-dividend date is Thursday, November 21st. Castings’s dividend payout ratio is 4,736.84%.

Insider Transactions at Castings

In other Castings news, insider Adam Vicary acquired 1,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost of GBX 267 ($3.34) per share, for a total transaction of £4,005 ($5,011.26). Corporate insiders own 21.35% of the company’s stock.

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.