The Weir Group (LON:WEIR) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

by · The Markets Daily

The Weir Group PLC (LON:WEIR – Get Free Report)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,034.56 ($26.42) and traded as high as GBX 2,136 ($27.73). The Weir Group shares last traded at GBX 2,109.52 ($27.39), with a volume of 458,822 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Shore Capital reiterated a “buy” rating on shares of The Weir Group in a report on Tuesday, August 20th. Royal Bank of Canada upped their price target on shares of The Weir Group from GBX 2,475 ($32.13) to GBX 2,500 ($32.46) and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Berenberg Bank lowered their price objective on shares of The Weir Group from GBX 2,600 ($33.76) to GBX 2,450 ($31.81) and set a “buy” rating for the company in a research report on Tuesday, August 6th.

View Our Latest Stock Report on The Weir Group

The Weir Group Price Performance

The company has a current ratio of 2.07, a quick ratio of 1.16 and a debt-to-equity ratio of 79.85. The company has a 50 day simple moving average of GBX 2,063.91 and a 200 day simple moving average of GBX 2,035.41. The stock has a market cap of £5.47 billion, a P/E ratio of 2,477.65, a PEG ratio of 2.59 and a beta of 1.41.

The Weir Group Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 3rd will be issued a dividend of GBX 17.90 ($0.23) per share. This represents a yield of 0.93%. The ex-dividend date of this dividend is Thursday, October 3rd. The Weir Group’s payout ratio is 4,588.24%.

Insider Activity at The Weir Group

In related news, insider Nick Anderson bought 3,100 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average price of GBX 1,959 ($25.43) per share, with a total value of £60,729 ($78,848.35). 0.31% of the stock is owned by insiders.

The Weir Group Company Profile

(Get Free Report)

The Weir Group PLC produces and sells highly engineered original equipment worldwide. It operates in two segments, Minerals and ESCO. The Minerals segment offers engineering, manufacturing, and service processing technology for the use in abrasive high-wear mining applications; and differentiated technology for the use in infrastructure and general industrial markets.

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