Castings (LON:CGS) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

Castings P.L.C. (LON:CGS) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 320.86 ($4.07) and traded as low as GBX 254 ($3.22). Castings shares last traded at GBX 260 ($3.30), with a volume of 4,119 shares traded.

Analyst Ratings Changes

Separately, Canaccord Genuity Group dropped their price objective on Castings from GBX 390 ($4.95) to GBX 340 ($4.31) and set a “buy” rating on the stock in a research report on Wednesday, November 13th.

Castings Stock Performance

The stock has a market cap of £113.00 million, a PE ratio of 684.21 and a beta of 0.60. The business’s 50-day moving average price is GBX 279.15 and its 200-day moving average price is GBX 320.86.

Castings Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Thursday, November 21st will be paid a GBX 4.21 ($0.05) dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a yield of 1.51%. Castings’s dividend payout ratio (DPR) is 4,736.84%.

Insider Transactions at Castings

In other Castings news, insider Adam Vicary purchased 1,500 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of GBX 267 ($3.39) per share, for a total transaction of £4,005 ($5,081.20). Insiders own 21.35% of the company’s stock.

About Castings

Castings P.L.C. engages in the iron casting and machining activities. It operates through Foundry Operations and Machining Operations segments. The company offers ductile iron, spheroidal graphite iron, austempered ductile iron, SiMo, and Ni-resist castings. It also provides fertilising solution annealing, pearlitic quench and temper, temper softening, and austempering heat treatment services; automotive standard e-coat and powder coating, galvanising, plating, gas based surface treatment, and plastic and metal spray coating services; and assembly and insulation services.