Volex (LON:VLX) Share Price Crosses Above 200 Day Moving Average of $318.44

Volex plc (LON:VLX)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 318.44 ($4.12) and traded as high as GBX 348.50 ($4.51). Volex shares last traded at GBX 348.50 ($4.51), with a volume of 187,923 shares changing hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 400 ($5.17) target price on shares of Volex in a report on Monday, July 1st.

Volex Price Performance

The business has a fifty day simple moving average of GBX 345.98 and a two-hundred day simple moving average of GBX 318.51. The company has a current ratio of 1.46, a quick ratio of 1.04 and a debt-to-equity ratio of 70.82. The stock has a market cap of £632.95 million, a PE ratio of 2,178.13 and a beta of 0.96.

Volex Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, July 25th will be issued a dividend of GBX 2.80 ($0.04) per share. This is an increase from Volex’s previous dividend of $1.40. The ex-dividend date of this dividend is Thursday, July 25th. This represents a dividend yield of 0.79%. Volex’s dividend payout ratio is 2,500.00%.

Insiders Place Their Bets

In related news, insider Nathaniel Rothschild purchased 107,813 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were purchased at an average cost of GBX 355 ($4.59) per share, with a total value of £382,736.15 ($495,002.78). Company insiders own 33.98% of the company’s stock.

About Volex

Volex plc manufactures and supplies power products and cable assemblies in North America, Europe, and Asia. It provides integrated manufacturing services, such as PCB assembly, box build, and complex cable assemblies; electric vehicle charging solutions; cable harness and power products; copper interconnect cable and data transfer cable; and data center power cables and power cords.