MJ Gleeson (LON:GLE) Earns “Buy” Rating from Berenberg Bank

Berenberg Bank reissued their buy rating on shares of MJ Gleeson (LON:GLE) in a research report report published on Wednesday, Marketbeat.com reports. They currently have a GBX 643 ($8.49) price target on the stock.

MJ Gleeson Stock Performance

LON GLE opened at GBX 592 ($7.82) on Wednesday. The firm has a market capitalization of £345.61 million, a P/E ratio of 2,041.38 and a beta of 1.14. The stock has a 50-day simple moving average of GBX 588.78 and a two-hundred day simple moving average of GBX 547.41. The company has a debt-to-equity ratio of 8.37, a quick ratio of 0.89 and a current ratio of 4.61. MJ Gleeson has a fifty-two week low of GBX 381 ($5.03) and a fifty-two week high of GBX 630 ($8.32).

MJ Gleeson Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be paid a dividend of GBX 7 ($0.09) per share. This is a boost from MJ Gleeson’s previous dividend of $4.00. The ex-dividend date is Thursday, October 24th. This represents a dividend yield of 1.25%. MJ Gleeson’s dividend payout ratio (DPR) is presently 4,482.76%.

Insider Activity

In other news, insider Christopher H. B. Mills sold 200,000 shares of the stock in a transaction dated Friday, July 19th. The shares were sold at an average price of GBX 600 ($7.93), for a total transaction of £1,200,000 ($1,585,204.76). Insiders own 16.93% of the company’s stock.

MJ Gleeson Company Profile

MJ Gleeson plc engages in low-cost house building and land promotion activities in the United Kingdom. The company operates through two divisions, Gleeson Homes and Gleeson Land. It also engages in the house building activities in the north of England and Midlands; and sale of land in the south of England.