FDM Group (LON:FDM) Trading 16.2% Higher Following Dividend Announcement

FDM Group (Holdings) plc (LON:FDM)’s stock price was up 16.2% during trading on Wednesday following a dividend announcement from the company. The company traded as high as GBX 266 ($3.46) and last traded at GBX 258 ($3.35). Approximately 2,650,492 shares changed hands during mid-day trading, an increase of 352% from the average daily volume of 586,742 shares. The stock had previously closed at GBX 222 ($2.89).

The newly announced dividend which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 20th will be issued a dividend of GBX 22 ($0.29) per share. This represents a dividend yield of 3.23%. This is a boost from FDM Group’s previous dividend of $10.00. The ex-dividend date of this dividend is Thursday, March 20th. FDM Group’s dividend payout ratio is presently 104.05%.

Analyst Upgrades and Downgrades

Separately, Shore Capital reiterated a “house stock” rating on shares of FDM Group in a research note on Wednesday.

FDM Group Stock Performance

The company has a market capitalization of £279.48 million, a price-to-earnings ratio of 9.19 and a beta of 0.97. The company has a 50 day moving average price of GBX 241.16 and a 200 day moving average price of GBX 317.66. The company has a debt-to-equity ratio of 28.75, a quick ratio of 2.24 and a current ratio of 2.31.

Insider Buying and Selling at FDM Group

In other FDM Group news, insider Sheila Flavell purchased 338 shares of the firm’s stock in a transaction that occurred on Thursday, January 9th. The stock was bought at an average cost of GBX 295 ($3.84) per share, with a total value of £997.10 ($1,296.28). Also, insider Michael (Mike) McLaren acquired 212 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was acquired at an average cost of GBX 235 ($3.06) per share, for a total transaction of £498.20 ($647.69). Over the last quarter, insiders bought 775 shares of company stock valued at $199,255. Company insiders own 17.79% of the company’s stock.

About FDM Group

FDM Group (Holdings) plc provides information technology (IT) services in the United Kingdom, North America, Europe, the Middle East, Africa, rest of Europe, and the Asia Pacific. It is involved in recruiting, training, and deploying its IT and business consultants to clients. The company was formerly known as Astra Topco Limited and changed its name to FDM Group (Holdings) plc.