The Weir Group (LON:WEIR) Share Price Crosses Above 200 Day Moving Average of $2,003.03

The Weir Group PLC (LON:WEIR)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,003.03 ($26.46) and traded as high as GBX 2,096 ($27.69). The Weir Group shares last traded at GBX 2,086 ($27.56), with a volume of 318,435 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently commented on WEIR. Berenberg Bank dropped their price target on The Weir Group from GBX 2,600 ($34.35) to GBX 2,450 ($32.36) and set a “buy” rating for the company in a research note on Tuesday, August 6th. Royal Bank of Canada raised their price objective on shares of The Weir Group from GBX 2,475 ($32.69) to GBX 2,500 ($33.03) and gave the stock 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 research report on Tuesday, August 20th.

The Weir Group Stock Performance

The stock has a fifty day moving average of GBX 1,954.24 and a 200-day moving average of GBX 2,003.03. 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 stock has a market capitalization of £5.42 billion, a PE ratio of 2,454.12, a price-to-earnings-growth ratio of 2.59 and a beta of 1.41.

The Weir Group Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 3rd will be given a dividend of GBX 17.90 ($0.24) per share. This represents a yield of 0.93%. The ex-dividend date of this dividend is Thursday, October 3rd. The Weir Group’s payout ratio is currently 4,588.24%.

Insider Buying and Selling at The Weir Group

In other news, insider Nick Anderson purchased 3,100 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average cost of GBX 1,959 ($25.88) per share, for a total transaction of £60,729 ($80,223.25). 0.42% of the stock is owned by company insiders.

About The Weir Group

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.