Insider Buying: Morgan Advanced Materials PLC (LON:MGAM) Insider Purchases 5,320 Shares of Stock

Morgan Advanced Materials PLC (LON:MGAM) insider Laurence Mulliez acquired 5,320 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average price of GBX 279 ($3.65) per share, for a total transaction of £14,842.80 ($19,394.75).

Shares of LON:MGAM opened at GBX 275.40 ($3.60) on Wednesday. Morgan Advanced Materials PLC has a 12 month low of GBX 228.92 ($2.99) and a 12 month high of GBX 287.60 ($3.76). The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 116.38. The company’s fifty day simple moving average is GBX 250.94 and its 200 day simple moving average is GBX 256.78. The firm has a market cap of $790.48 million and a price-to-earnings ratio of 14.20.

A number of equities research analysts recently commented on MGAM shares. Jefferies Financial Group upgraded shares of Morgan Advanced Materials to a “buy” rating and dropped their price objective for the stock from GBX 365 ($4.77) to GBX 320 ($4.18) in a report on Wednesday, July 24th. Royal Bank of Canada lowered shares of Morgan Advanced Materials to an “underperform” rating in a report on Wednesday, October 9th. Berenberg Bank restated a “buy” rating and set a GBX 330 ($4.31) price objective on shares of Morgan Advanced Materials in a report on Tuesday, August 20th. Finally, Bank of America dropped their price objective on shares of Morgan Advanced Materials from GBX 280 ($3.66) to GBX 270 ($3.53) and set a “neutral” rating on the stock in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of GBX 319.29 ($4.17).

About Morgan Advanced Materials

Morgan Advanced Materials plc operates as an advanced materials science and engineering company that focuses on ceramics, carbon, and composites primarily in the United Kingdom. The company offers high-temperature insulating fiber products, microporous products, firebricks, monolithic products, heat shields, fired refractory shapes, and structural block insulation products; crucibles, foundry products, and furnace industries furnace ranges; and seals and bearings, as well as general pump components, such as shafts, vanes, rotors, and washers.

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