Macfarlane Group PLC (LON:MACF – Get Free Report) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 118.17 ($1.58) and traded as low as GBX 109.50 ($1.46). Macfarlane Group shares last traded at GBX 110 ($1.47), with a volume of 243,150 shares traded.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on MACF. Shore Capital reaffirmed a “house stock” rating on shares of Macfarlane Group in a research note on Thursday, August 22nd. Berenberg Bank upped their price target on shares of Macfarlane Group from GBX 145 ($1.94) to GBX 150 ($2.01) and gave the stock a “buy” rating in a research note on Monday, July 8th.
Check Out Our Latest Stock Analysis on MACF
Macfarlane Group Price Performance
Macfarlane Group Cuts Dividend
The firm also recently announced a dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 12th will be given a dividend of GBX 0.96 ($0.01) per share. This represents a yield of 0.8%. The ex-dividend date is Thursday, September 12th. Macfarlane Group’s payout ratio is 4,444.44%.
About Macfarlane Group
Macfarlane Group PLC, through its subsidiaries, engages in the design, manufacture, and distribution of protective packaging products to businesses. The company operates through Packaging Distribution and Manufacturing Operations segments. The Packaging Distribution segment distributes packaging materials; and supplies storage and warehousing services in the United Kingdom, Ireland, and Europe.
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