Spirax-Sarco Engineering plc (LON:SPX – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as GBX 7,100 ($94.77) and last traded at GBX 7,170 ($95.70), with a volume of 67101 shares changing hands. The stock had previously closed at GBX 7,160 ($95.57).
Analyst Ratings Changes
A number of equities research analysts have recently commented on the stock. Royal Bank of Canada dropped their price objective on shares of Spirax-Sarco Engineering from GBX 8,000 ($106.78) to GBX 7,000 ($93.43) and set an “underperform” rating on the stock in a research note on Thursday, August 15th. Berenberg Bank cut their price target on Spirax-Sarco Engineering from GBX 9,800 ($130.81) to GBX 8,150 ($108.78) and set a “hold” rating for the company in a research note on Friday, August 9th. Jefferies Financial Group lowered their price target on Spirax-Sarco Engineering from GBX 9,690 ($129.34) to GBX 9,580 ($127.87) and set a “hold” rating on the stock in a research report on Friday, July 12th. Finally, Shore Capital restated a “sell” rating on shares of Spirax-Sarco Engineering in a research report on Friday, August 30th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of GBX 9,158 ($122.24).
Read Our Latest Analysis on SPX
Spirax-Sarco Engineering Price Performance
Spirax-Sarco Engineering Cuts Dividend
The firm also recently declared a dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 17th will be given a dividend of GBX 47.50 ($0.63) per share. The ex-dividend date of this dividend is Thursday, October 17th. This represents a yield of 0.56%. Spirax-Sarco Engineering’s payout ratio is presently 6,230.77%.
Insider Activity
In related news, insider Kevin J. Thompson acquired 640 shares of Spirax-Sarco Engineering stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of GBX 7,655 ($102.18) per share, for a total transaction of £48,992 ($65,392.42). Company insiders own 0.73% of the company’s stock.
Spirax-Sarco Engineering Company Profile
Spirax-Sarco Engineering plc provides engineered solutions it operates through three segments: Steam Thermal Solutions; Electric Thermal Solutions; and Watson-Marlow Fluid Technology Solutions. The company offers industrial and commercial steam systems, including condensate management, controls, and thermal energy management products and solutions for heating, curing, cooking, drying, cleaning, sterilizing, space heating, humidifying, vacuum packing, and producing hot water; electrical process heating and temperature management solutions, such as industrial heaters and systems, heat tracing, and various component technologies for industrial processes; and peristaltic and niche pumps and associated fluid path technologies, including tubing, and specialty filling systems and products for single-use applications.
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