Castings (LON:CGS) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Castings P.L.C. (LON:CGS)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 311.01 ($3.85) and traded as low as GBX 256 ($3.17). Castings shares last traded at GBX 259.94 ($3.22), with a volume of 20,682 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group dropped their price target on Castings from GBX 390 ($4.83) to GBX 340 ($4.21) and set a “buy” rating on the stock in a research note on Wednesday, November 13th.

Castings Stock Performance

The stock’s 50 day simple moving average is GBX 269.23 and its 200-day simple moving average is GBX 310.33. The firm has a market cap of £110.39 million, a price-to-earnings ratio of 668.42 and a beta of 0.60.

Castings Cuts Dividend

The company also recently declared a dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, November 21st were given a dividend of GBX 4.21 ($0.05) per share. The ex-dividend date was Thursday, November 21st. This represents a yield of 1.51%. Castings’s dividend payout ratio is currently 4,736.84%.

Insider Buying and Selling at Castings

In other Castings news, insider Adam Vicary bought 1,500 shares of Castings stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of GBX 267 ($3.30) per share, with a total value of £4,005 ($4,957.30). Company insiders own 21.35% of the company’s stock.

Castings Company Profile

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.