Bellway (LON:BWY) Hits New 1-Year High After Dividend Announcement

Shares of Bellway p.l.c. (LON:BWY) hit a new 52-week high during trading on Tuesday after the company announced a dividend. The company traded as high as GBX 3,280 ($42.83) and last traded at GBX 3,254 ($42.49), with a volume of 1267942 shares changing hands. The stock had previously closed at GBX 3,052 ($39.85).

The newly announced dividend which will be paid on Wednesday, January 8th. Investors of record on Thursday, November 28th will be paid a GBX 38 ($0.50) dividend. This represents a yield of 1.15%. This is a boost from Bellway’s previous dividend of $16.00. The ex-dividend date of this dividend is Thursday, November 28th. Bellway’s dividend payout ratio (DPR) is 6,166.67%.

Analyst Ratings Changes

A number of brokerages recently issued reports on BWY. Citigroup reissued a “buy” rating and issued a GBX 3,368 ($43.98) price objective on shares of Bellway in a research note on Thursday, August 15th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Bellway in a research note on Friday, July 5th. Finally, Berenberg Bank lifted their price objective on shares of Bellway from GBX 2,900 ($37.87) to GBX 3,200 ($41.79) and gave the company a “hold” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 3,204.20 ($41.84).

Bellway Trading Down 0.7 %

The business’s 50 day simple moving average is GBX 3,061.58 and its two-hundred day simple moving average is GBX 2,794.54. The stock has a market cap of £3.95 billion, a P/E ratio of 1,850.00, a PEG ratio of 3.40 and a beta of 1.46. The company has a quick ratio of 0.50, a current ratio of 5.78 and a debt-to-equity ratio of 3.78.

Insider Activity at Bellway

In other Bellway news, insider Keith Adey sold 27,303 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of GBX 3,257 ($42.53), for a total transaction of £889,258.71 ($1,161,215.34). 3.73% of the stock is owned by company insiders.

Bellway Company Profile

Bellway p.l.c., together with its subsidiaries, engages in the home building business in the United Kingdom. The company builds and sells homes ranging from one-bedroom apartments to six-bedroom family homes, as well as provides homes to housing associations for social housing. It offers homes under Bellway, Ashberry, and Bellway London brands.