Smiths Group (LON:SMIN) Hits New 1-Year High on Insider Buying Activity

Smiths Group plc (LON:SMIN) shares hit a new 52-week high on Wednesday following insider buying activity. The stock traded as high as GBX 1,845 ($23.74) and last traded at GBX 1,681 ($21.63), with a volume of 2097427 shares changing hands. The stock had previously closed at GBX 1,522 ($19.59).

Specifically, insider Mark Seligman bought 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was purchased at an average cost of GBX 1,726 ($22.21) per share, with a total value of £69,040 ($88,843.13).

Analyst Ratings Changes

Separately, Berenberg Bank began coverage on shares of Smiths Group in a research note on Thursday, August 22nd. They set a “buy” rating and a GBX 1,850 ($23.81) price objective for the company.

Smiths Group Price Performance

The firm has a 50 day simple moving average of GBX 1,671.60 and a 200-day simple moving average of GBX 1,700.76. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 29.84. The company has a market cap of £5.77 billion, a PE ratio of 2,334.72, a price-to-earnings-growth ratio of 0.35 and a beta of 0.66.

Smiths Group Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 17th will be paid a dividend of GBX 30.20 ($0.39) per share. This is a positive change from Smiths Group’s previous dividend of $13.55. The ex-dividend date is Thursday, October 17th. This represents a dividend yield of 1.66%. Smiths Group’s payout ratio is presently 6,111.11%.

About Smiths Group

Smiths Group plc operates as a technology company in Americas, Europe, the Asia Pacific, and internationally. It operates through four divisions: John Crane, Smiths Detection, Flex-Tek, and Smiths Interconnect. The John Crane division offers mechanical seals, seal support systems, power transmission couplings, and specialized filtration systems.