Victrex (LON:VCT) Stock Price Up 14.5% After Dividend Announcement

Victrex plc (LON:VCT) rose 14.5% during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as GBX 1,040 ($13.16) and last traded at GBX 1,003.99 ($12.71). Approximately 105,606 shares traded hands during trading, a decline of 49% from the average daily volume of 205,760 shares. The stock had previously closed at GBX 877 ($11.10).

The newly announced dividend which will be paid on Friday, February 21st. Investors of record on Thursday, January 23rd will be given a GBX 46.14 ($0.58) dividend. This represents a dividend yield of 5.26%. This is an increase from Victrex’s previous dividend of $13.42. The ex-dividend date is Thursday, January 23rd. Victrex’s dividend payout ratio (DPR) is currently 17,142.86%.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank decreased their price objective on shares of Victrex from GBX 1,491 ($18.87) to GBX 1,290 ($16.33) and set a “hold” rating for the company in a report on Wednesday, August 28th.

Victrex Trading Up 14.5 %

The company has a quick ratio of 1.99, a current ratio of 5.30 and a debt-to-equity ratio of 16.99. The stock has a market capitalization of £873.77 million, a P/E ratio of 2,505.71, a price-to-earnings-growth ratio of 1.92 and a beta of 0.69. The company has a fifty day simple moving average of GBX 889.72 and a two-hundred day simple moving average of GBX 1,040.72.

Insider Transactions at Victrex

In related news, insider Janet E. Ashdown bought 2,103 shares of Victrex stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average cost of GBX 951 ($12.04) per share, with a total value of £19,999.53 ($25,312.66). Also, insider Jane Toogood purchased 508 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was purchased at an average cost of GBX 937 ($11.86) per share, for a total transaction of £4,759.96 ($6,024.50). 1.64% of the stock is currently owned by insiders.

About Victrex

Victrex plc, through its subsidiaries, engages in the manufacture and sale of polymer solutions worldwide. The company operates through two segments, Sustainable Solutions and Medical. It develops PEEK and PAEK based polymer solutions, and semi-finished and finished parts. The company also provides specialist solutions for medical device manufacturers; sells thermoplastic polymers; sustainable solutions for energy and industrial, VAR, automotive, aerospace, and electronics markets; and engages in trading activities.