Melrose Industries (LON:MRO) Share Price Passes Above Two Hundred Day Moving Average of $573.28

Melrose Industries PLC (LON:MRO) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 573.28 ($7.08) and traded as high as GBX 635.80 ($7.85). Melrose Industries shares last traded at GBX 635.80 ($7.85), with a volume of 3,458,251 shares changing hands.

Wall Street Analyst Weigh In

Separately, Numis Securities reaffirmed an “add” rating and set a GBX 640 ($7.91) target price on shares of Melrose Industries in a research report on Friday, March 8th.

Melrose Industries Price Performance

The firm has a market cap of £8.39 billion, a price-to-earnings ratio of -31,790.00, a P/E/G ratio of 0.49 and a beta of 1.59. The business has a 50 day simple moving average of GBX 636.77 and a 200-day simple moving average of GBX 573.28. The company has a debt-to-equity ratio of 23.05, a quick ratio of 0.45 and a current ratio of 0.86.

Melrose Industries Increases Dividend

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

Insider Transactions at Melrose Industries

In other news, insider Matthew Gregory purchased 16,670 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average cost of GBX 596 ($7.36) per share, for a total transaction of £99,353.20 ($122,718.87). Company insiders own 2.96% of the company’s stock.

About Melrose Industries

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.