Morgan Advanced Materials plc (LON:MGAM) Increases Dividend to GBX 6.80 Per Share

Morgan Advanced Materials plc (LON:MGAM) announced a dividend on Friday, February 28th, DividendData.Co.Uk reports. Stockholders of record on Thursday, April 10th will be given a dividend of GBX 6.80 ($0.09) per share on Tuesday, May 13th. This represents a dividend yield of 3.17%. The ex-dividend date of this dividend is Thursday, April 10th. This is a 25.9% increase from Morgan Advanced Materials’s previous dividend of $5.40. The official announcement can be seen at this link.

Morgan Advanced Materials Trading Up 4.4 %

Shares of MGAM stock opened at GBX 185.16 ($2.36) on Tuesday. Morgan Advanced Materials has a fifty-two week low of GBX 171.20 ($2.18) and a fifty-two week high of GBX 347 ($4.42). The firm has a market capitalization of £521.94 million, a P/E ratio of 7.62, a PEG ratio of 0.51 and a beta of 1.34. The company has a debt-to-equity ratio of 103.31, a quick ratio of 1.26 and a current ratio of 2.19. The stock’s fifty day moving average is GBX 235.47 and its two-hundred day moving average is GBX 253.26.

Morgan Advanced Materials (LON:MGAM) last released its quarterly earnings data on Friday, February 28th. The company reported GBX 25.50 ($0.32) earnings per share (EPS) for the quarter. Morgan Advanced Materials had a net margin of 6.17% and a return on equity of 19.02%. Research analysts expect that Morgan Advanced Materials will post 32.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MGAM has been the subject of several research reports. Citigroup lifted their target price on Morgan Advanced Materials from GBX 325 ($4.14) to GBX 330 ($4.20) and gave the company a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada cut their target price on Morgan Advanced Materials from GBX 320 ($4.07) to GBX 265 ($3.37) and set an “outperform” rating on the stock in a research report on Monday, March 3rd.

Insider Activity

In other news, insider Pete Raby acquired 13,500 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was acquired at an average price of GBX 182 ($2.32) per share, with a total value of £24,570 ($31,275.46). Insiders own 1.69% of the company’s stock.

About Morgan Advanced Materials

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.