discoverIE Group (LON:DSCV) Stock Price Up 15.8% After Dividend Announcement

discoverIE Group plc (LON:DSCV)’s share price rose 15.8% during trading on Wednesday after the company announced a dividend. The stock traded as high as GBX 754 ($9.58) and last traded at GBX 732.92 ($9.31). Approximately 762,190 shares changed hands during trading, an increase of 263% from the average daily volume of 209,916 shares. The stock had previously closed at GBX 633 ($8.04).

The newly announced dividend which will be paid on Friday, January 24th. Investors of record on Thursday, December 12th will be paid a dividend of GBX 3.90 ($0.05) per share. The ex-dividend date is Thursday, December 12th. This represents a yield of 0.62%. discoverIE Group’s payout ratio is currently 7,500.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DSCV. Berenberg Bank reissued a “buy” rating and set a GBX 950 ($12.07) price target on shares of discoverIE Group in a report on Tuesday, October 15th. Shore Capital upgraded discoverIE Group to a “hold” rating in a research report on Wednesday.

discoverIE Group Trading Down 0.5 %

The firm has a market capitalization of £700.42 million, a price-to-earnings ratio of 4,562.86 and a beta of 1.09. The company has a current ratio of 1.55, a quick ratio of 0.96 and a debt-to-equity ratio of 77.89. The company has a fifty day moving average price of GBX 645.73 and a 200-day moving average price of GBX 667.11.

Insiders Place Their Bets

In other discoverIE Group news, insider Simon Gibbins acquired 7,822 shares of discoverIE Group stock in a transaction on Tuesday, October 15th. The shares were bought at an average price of GBX 634 ($8.06) per share, with a total value of £49,591.48 ($63,013.32). Also, insider Clive Watson bought 4,126 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were purchased at an average price of GBX 585 ($7.43) per share, with a total value of £24,137.10 ($30,669.76). Company insiders own 4.50% of the company’s stock.

discoverIE Group Company Profile

discoverIE Group plc designs, manufactures, and supplies components for electronic applications worldwide. It operates in two segments, Magnetics & Controls; and Sensing & Connectivity. The company offers magnetic and power components, embedded computing and interface controls, and sensing and connectivity components for industrial applications.