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

Castings P.L.C. (LON:CGS)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-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 trading hands.

Wall Street Analysts Forecast Growth

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

Castings Price Performance

The firm has a market capitalization of £113.00 million, a P/E ratio of 684.21 and a beta of 0.60. The firm has a 50-day moving average price of GBX 279.15 and a two-hundred day moving average price of GBX 320.86.

Castings Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, January 2nd. Investors of record on Thursday, November 21st will be issued a dividend of GBX 4.21 ($0.05) per share. The ex-dividend date is Thursday, November 21st. This represents a yield of 1.51%. Castings’s payout ratio is 4,736.84%.

Insider Buying and Selling at Castings

In other news, insider Adam Vicary bought 1,500 shares of the stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of GBX 267 ($3.39) per share, for a total transaction of £4,005 ($5,081.20). 21.35% of the stock is owned by corporate insiders.

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.