discoverIE Group (LON:DSCV) Shares Up 15.8% Following Dividend Announcement

discoverIE Group plc (LON:DSCV) traded up 15.8% on Wednesday after the company announced a dividend. The company traded as high as GBX 754 ($9.55) and last traded at GBX 732.92 ($9.29). 762,190 shares traded hands during trading, an increase of 263% from the average session volume of 209,916 shares. The stock had previously closed at GBX 633 ($8.02).

The newly announced dividend which will be paid on Friday, January 24th. Stockholders of record on Thursday, December 12th will be given a dividend of GBX 3.90 ($0.05) per share. This represents a dividend yield of 0.62%. The ex-dividend date is Thursday, December 12th. discoverIE Group’s dividend payout ratio is currently 7,500.00%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Berenberg Bank restated a “buy” rating and issued a GBX 950 ($12.04) price target on shares of discoverIE Group in a research note on Tuesday, October 15th. Shore Capital reissued a “sell” rating on shares of discoverIE Group in a research note on Tuesday, October 15th.

discoverIE Group Stock Up 15.8 %

The company has a current ratio of 1.55, a quick ratio of 0.96 and a debt-to-equity ratio of 77.89. The stock’s fifty day moving average is GBX 642.79 and its 200 day moving average is GBX 666.68. The company has a market capitalization of £703.16 million, a P/E ratio of 4,580.76 and a beta of 1.09.

Insider Activity

In other discoverIE Group news, insider Simon Gibbins bought 7,822 shares of discoverIE Group stock in a transaction on Tuesday, October 15th. The stock was acquired at an average price of GBX 634 ($8.03) per share, with a total value of £49,591.48 ($62,837.66). Also, insider Clive Watson bought 4,126 shares of the stock in a transaction on Thursday, September 12th. The shares were bought at an average price of GBX 585 ($7.41) per share, for a total transaction of £24,137.10 ($30,584.26). 4.50% of the stock is currently owned by company insiders.

About discoverIE Group

discoverIE Group plc designs, manufactures, and supplies components for electronic applications worldwide. It operates in two segments, Magnetics & Controls; and Sensing & Connectivity. The company offers magnetic and power components, embedded computing and interface controls, and sensing and connectivity components for industrial applications.