Castings (LON:CGS) Shares Cross Below 200-Day Moving Average – Should You Sell?

Castings P.L.C. (LON:CGS) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 307.08 ($3.75) and traded as low as GBX 252 ($3.08). Castings shares last traded at GBX 264 ($3.22), with a volume of 29,313 shares.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lowered their price target on shares of Castings from GBX 390 ($4.76) to GBX 340 ($4.15) and set a “buy” rating on the stock in a report on Wednesday, November 13th.

Castings Trading Down 2.9 %

The firm has a 50-day simple moving average of GBX 266.80 and a two-hundred day simple moving average of GBX 306.34. The stock has a market cap of £111.43 million, a P/E ratio of 674.74 and a beta of 0.60.

Castings Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, November 21st were paid a GBX 4.21 ($0.05) dividend. This represents a yield of 1.51%. The ex-dividend date of this dividend was Thursday, November 21st. Castings’s dividend payout ratio (DPR) is 4,736.84%.

Insiders Place Their Bets

In related news, insider Adam Vicary bought 1,500 shares of Castings stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of GBX 267 ($3.26) per share, with a total value of £4,005 ($4,890.11). Company 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.