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

Castings P.L.C. (LON:CGS)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 315.85 ($3.96) and traded as low as GBX 254 ($3.19). Castings shares last traded at GBX 265.90 ($3.34), with a volume of 235,716 shares changing hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reduced their price target on Castings from GBX 390 ($4.89) to GBX 340 ($4.26) and set a “buy” rating for the company in a research report on Wednesday, November 13th.

Castings Trading Up 3.1 %

The firm has a market cap of £115.56 million, a PE ratio of 699.74 and a beta of 0.60. The company has a 50-day simple moving average of GBX 273.94 and a 200 day simple moving average of GBX 315.85.

Castings Cuts Dividend

The company also recently declared 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. This represents a yield of 1.51%. The ex-dividend date of this dividend is Thursday, November 21st. Castings’s dividend payout ratio (DPR) is presently 4,736.84%.

Insider Activity

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 ($3.35) per share, with a total value of £4,005 ($5,023.20). Insiders own 21.35% of the company’s stock.

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.