Bellway (LON:BWY) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Bellway p.l.c. (LON:BWY) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,818.80 ($36.60) and traded as high as GBX 3,150 ($40.90). Bellway shares last traded at GBX 3,128 ($40.61), with a volume of 235,081 shares.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. restated a “neutral” rating on shares of Bellway in a report on Friday, July 5th. Citigroup reaffirmed a “buy” rating and issued a GBX 3,368 ($43.73) price objective on shares of Bellway in a research note on Thursday, August 15th. Finally, Berenberg Bank boosted their target price on shares of Bellway from GBX 2,900 ($37.65) to GBX 3,200 ($41.55) and gave the company a “hold” rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 3,204.20 ($41.60).

Bellway Stock Performance

The company has a current ratio of 5.78, a quick ratio of 0.50 and a debt-to-equity ratio of 3.78. The firm has a market capitalization of £3.71 billion, a PE ratio of 1,737.78, a PEG ratio of 3.40 and a beta of 1.46. The firm’s fifty day moving average price is GBX 3,110.34 and its 200 day moving average price is GBX 2,818.80.

Bellway Increases Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Investors of record on Thursday, November 28th will be issued a GBX 38 ($0.49) dividend. The ex-dividend date of this dividend is Thursday, November 28th. This represents a yield of 1.15%. This is an increase from Bellway’s previous dividend of $16.00. Bellway’s dividend payout ratio is currently 6,166.67%.

Insider Buying and Selling at Bellway

In other Bellway news, insider Keith Adey sold 27,303 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of GBX 3,257 ($42.29), for a total transaction of £889,258.71 ($1,154,581.55). Corporate insiders own 3.73% of the company’s stock.

Bellway Company Profile

Bellway p.l.c., together with its subsidiaries, engages in the home building business in the United Kingdom. The company builds and sells homes ranging from one-bedroom apartments to six-bedroom family homes, as well as provides homes to housing associations for social housing. It offers homes under Bellway, Ashberry, and Bellway London brands.