Melrose Industries (LON:MRO) Shares Pass Above 200-Day Moving Average of $565.96

Melrose Industries PLC (LON:MRO) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 565.96 ($7.05) and traded as high as GBX 658.40 ($8.20). Melrose Industries shares last traded at GBX 648.80 ($8.08), with a volume of 2,829,312 shares.

Wall Street Analysts Forecast Growth

Separately, Numis Securities reissued an “add” rating and issued a GBX 640 ($7.97) price target on shares of Melrose Industries in a research note on Friday, March 8th.

Melrose Industries Trading Down 0.7 %

The company has a debt-to-equity ratio of 23.05, a quick ratio of 0.45 and a current ratio of 0.86. The company has a 50 day simple moving average of GBX 634.07 and a two-hundred day simple moving average of GBX 567.52. The company has a market cap of £8.28 billion, a PE ratio of -31,360.00, a PEG ratio of 0.49 and a beta of 1.59.

Melrose Industries Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Thursday, March 28th will be paid a dividend of GBX 3.50 ($0.04) per share. This represents a yield of 0.55%. The ex-dividend date of this dividend is Thursday, March 28th. This is a boost from Melrose Industries’s previous dividend of $1.50. Melrose Industries’s payout ratio is -25,000.00%.

Insider Buying and Selling at Melrose Industries

In other news, insider Matthew Gregory purchased 16,670 shares of Melrose Industries stock in a transaction dated Monday, March 11th. The stock was acquired at an average cost of GBX 596 ($7.42) per share, for a total transaction of £99,353.20 ($123,681.31). Company insiders own 2.96% of the company’s stock.

Melrose Industries Company Profile

Melrose Industries PLC, together with its subsidiaries, engages in the aerospace, automotive, powder metallurgy, and other industrial businesses in the United Kingdom, rest of Europe, North America, and internationally. Its Aerospace segment provides airframe and engine structures, and electrical interconnection systems for the aerospace industry in civil airframe and defense platforms.