Morgan Advanced Materials (LON:MGAM) Stock Passes Below 200-Day Moving Average of $305.54

Morgan Advanced Materials plc (LON:MGAM) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 305.54 ($4.08) and traded as low as GBX 269.50 ($3.60). Morgan Advanced Materials shares last traded at GBX 271.50 ($3.62), with a volume of 410,811 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft lowered their target price on Morgan Advanced Materials from GBX 335 ($4.47) to GBX 320 ($4.27) and set a “hold” rating for the company in a research report on Friday, September 13th.

Morgan Advanced Materials Stock Performance

The firm has a 50 day moving average price of GBX 309.56 and a 200 day moving average price of GBX 305.54. The company has a quick ratio of 1.26, a current ratio of 2.19 and a debt-to-equity ratio of 93.89. The stock has a market cap of £772.58 million, a PE ratio of 1,131.25, a price-to-earnings-growth ratio of 0.56 and a beta of 1.34.

Morgan Advanced Materials Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 24th will be issued a GBX 5.40 ($0.07) dividend. This represents a yield of 1.71%. The ex-dividend date is Thursday, October 24th. Morgan Advanced Materials’s dividend payout ratio is presently 5,000.00%.

About Morgan Advanced Materials

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.