Victrex (LON:VCT) Stock Price Up 14.5% After Dividend Announcement

Victrex plc (LON:VCT) was up 14.5% on Tuesday following a dividend announcement from the company. The stock traded as high as GBX 1,040 ($13.18) and last traded at GBX 1,003.99 ($12.72). Approximately 105,606 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 205,760 shares. The stock had previously closed at GBX 877 ($11.11).

The newly announced dividend which will be paid on Friday, February 21st. Investors of record on Thursday, January 23rd will be issued a GBX 46.14 ($0.58) dividend. This represents a dividend yield of 5.26%. The ex-dividend date is Thursday, January 23rd. This is a positive change from Victrex’s previous dividend of $13.42. Victrex’s dividend payout ratio is currently 17,142.86%.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank dropped their price objective on Victrex from GBX 1,491 ($18.89) to GBX 1,290 ($16.35) and set a “hold” rating on the stock in a research note on Wednesday, August 28th.

Victrex Stock Up 14.5 %

The stock has a 50 day moving average price of GBX 888.82 and a 200 day moving average price of GBX 1,037.78. The company has a debt-to-equity ratio of 16.99, a quick ratio of 1.99 and a current ratio of 5.30. The company has a market capitalization of £873.78 million, a P/E ratio of 2,820.56, a PEG ratio of 1.92 and a beta of 0.69.

Insiders Place Their Bets

In other news, insider Jane Toogood purchased 508 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was bought at an average price of GBX 937 ($11.87) per share, for a total transaction of £4,759.96 ($6,031.37). Also, insider Janet E. Ashdown purchased 2,103 shares of the stock in a transaction dated Thursday, September 12th. The stock was acquired at an average cost of GBX 951 ($12.05) per share, for a total transaction of £19,999.53 ($25,341.52). Over the last 90 days, insiders have purchased 3,591 shares of company stock valued at $3,474,569. Company insiders own 1.64% of the company’s stock.

About Victrex

Victrex plc, through its subsidiaries, engages in the manufacture and sale of polymer solutions worldwide. The company operates through two segments, Sustainable Solutions and Medical. It develops PEEK and PAEK based polymer solutions, and semi-finished and finished parts. The company also provides specialist solutions for medical device manufacturers; sells thermoplastic polymers; sustainable solutions for energy and industrial, VAR, automotive, aerospace, and electronics markets; and engages in trading activities.