Melrose Industries (LON:MRO) Share Price Passes Above Two Hundred Day Moving Average of $579.01

Melrose Industries PLC (LON:MRO) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 579.01 ($7.27) and traded as high as GBX 636.40 ($7.99). Melrose Industries shares last traded at GBX 621.20 ($7.80), with a volume of 1,814,111 shares traded.

Wall Street Analysts Forecast Growth

Separately, Numis Securities reissued an “add” rating and set a GBX 640 ($8.04) price objective on shares of Melrose Industries in a report on Friday, March 8th.

Melrose Industries Stock Performance

The company has a 50-day simple moving average of GBX 639.06 and a two-hundred day simple moving average of GBX 579.01. 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 firm has a market capitalization of £8.04 billion, a P/E ratio of -31,060.00, a PEG ratio of 0.49 and a beta of 1.59.

Melrose Industries Increases Dividend

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

Insider Buying and Selling

In related news, insider Matthew Gregory purchased 16,670 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were purchased at an average cost of GBX 596 ($7.49) per share, with a total value of £99,353.20 ($124,799.90). 2.96% of the stock is owned by company insiders.

Melrose Industries Company Profile

Melrose Industries PLC, together with its subsidiaries, provides aerospace components and systems to civil and defence markets in the United Kingdom, rest of Europe, North America, and internationally. The company operates through two segments, Engines and Structures. The Engines segment offers structural engineered components; parts repair; and commercial and aftermarket contracts to engines original equipment manufacturers.