RHI Magnesita (LON:RHIM) Stock Price Down 2%

RHI Magnesita (LON:RHIM) shares were down 2% during mid-day trading on Tuesday . The company traded as low as GBX 3,350 ($44.81) and last traded at GBX 3,360 ($44.94). Approximately 11,830 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 24,092 shares. The stock had previously closed at GBX 3,430 ($45.88).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank lowered their price target on RHI Magnesita from GBX 4,300 ($57.52) to GBX 4,150 ($55.51) and set a “buy” rating on the stock in a report on Thursday, July 25th.

RHI Magnesita Stock Down 2.0 %

The firm has a fifty day simple moving average of GBX 3,408.66 and a 200 day simple moving average of GBX 3,459.61. The company has a debt-to-equity ratio of 134.00, a quick ratio of 0.93 and a current ratio of 1.91. The company has a market cap of £1.59 billion, a PE ratio of 1,050.00, a PEG ratio of 2.03 and a beta of 1.53.

RHI Magnesita Cuts Dividend

The company also recently announced a dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, August 29th were given a €0.60 ($0.67) dividend. This represents a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, August 29th. RHI Magnesita’s dividend payout ratio (DPR) is currently 4,875.00%.

Insiders Place Their Bets

In related news, insider Karl Sevelda sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of GBX 3,562 ($47.65), for a total value of £35,620 ($47,645.80). 42.23% of the stock is currently owned by insiders.

About RHI Magnesita

RHI Magnesita N.V., together with its subsidiaries, develops, produces, sells, installs, and maintains refractory products and systems used in industrial high-temperature processes worldwide. It offers magnesia spinel, dolomite, dolomite-magnesia, magnesia-chrome, alumina, alumina silicate, and mortars for the cement industry; shaped products based on silicon carbide, magnesia, zirconium, fireclay, and alumina; unshaped refractories; high-temperature insulation, and ceramic and metallic anchoring systems; induction and electric arc furnaces, AOD converters, dome and delta, ladles, isostatically pressed and tundish products, and slide gates.