Richard Armitage Sells 33,105 Shares of Morgan Advanced Materials (LON:MGAM) Stock

Morgan Advanced Materials plc (LON:MGAM) insider Richard Armitage sold 33,105 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of GBX 223, for a total value of £73,824.15.

Morgan Advanced Materials Stock Performance

MGAM traded down GBX 7 during midday trading on Tuesday, reaching GBX 216.50. The company had a trading volume of 10,408,334 shares, compared to its average volume of 2,635,436. The company has a quick ratio of 1.26, a current ratio of 1.23 and a debt-to-equity ratio of 113.93. The business has a 50-day moving average of GBX 210.73 and a two-hundred day moving average of GBX 215.44. The company has a market cap of £598.44 million, a P/E ratio of 28.87, a P/E/G ratio of 0.51 and a beta of 1.21. Morgan Advanced Materials plc has a 1 year low of GBX 167 and a 1 year high of GBX 251.50.

Morgan Advanced Materials (LON:MGAM) last issued its earnings results on Tuesday, March 3rd. The company reported GBX 15.90 earnings per share for the quarter. Morgan Advanced Materials had a net margin of 2.12% and a return on equity of 6.66%. As a group, equities research analysts predict that Morgan Advanced Materials plc will post 32.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MGAM. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a GBX 210 price objective on shares of Morgan Advanced Materials in a research note on Wednesday, March 4th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 230 price target on shares of Morgan Advanced Materials in a research report on Thursday, May 7th. Citigroup raised their price objective on Morgan Advanced Materials from GBX 230 to GBX 235 and gave the company a “buy” rating in a research note on Thursday, March 12th. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 265 target price on shares of Morgan Advanced Materials in a research report on Wednesday, March 4th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Morgan Advanced Materials presently has a consensus rating of “Hold” and a consensus target price of GBX 235.

Morgan Advanced Materials Company Profile

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. Morgan Advanced Materials plc was founded in 1856 and is headquartered in Windsor, the United Kingdom.