Macfarlane Group PLC (LON:MACF – Get Free Report)’s share price dropped 7.7% during mid-day trading on Tuesday . The stock traded as low as GBX 128.22 ($1.61) and last traded at GBX 131 ($1.65). Approximately 306,497 shares were traded during mid-day trading, a decline of 15% from the average daily volume of 362,276 shares. The stock had previously closed at GBX 142 ($1.78).
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the stock. Shore Capital reissued a “house stock” rating on shares of Macfarlane Group in a research report on Tuesday. Berenberg Bank reiterated a “buy” rating and set a GBX 145 ($1.82) target price on shares of Macfarlane Group in a report on Thursday, February 29th.
Read Our Latest Research Report on MACF
Macfarlane Group Stock Down 0.3 %
Macfarlane Group Increases Dividend
The firm also recently declared a dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 9th will be paid a GBX 2.65 ($0.03) dividend. This is a positive change from Macfarlane Group’s previous dividend of $0.94. This represents a yield of 2.15%. The ex-dividend date of this dividend is Thursday, May 9th. Macfarlane Group’s payout ratio is presently 4,444.44%.
Insiders Place Their Bets
In other Macfarlane Group news, insider Ivor Gray sold 97,361 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of GBX 134 ($1.68), for a total value of £130,463.74 ($163,899.17). Insiders own 16.70% of the company’s stock.
Macfarlane Group Company Profile
Macfarlane Group PLC, through its subsidiaries, engages in the design, manufacture, and distribution of protective packaging products to businesses. The company operates through Packaging Distribution and Manufacturing Operations segments. The Packaging Distribution segment distributes packaging materials; and supplies storage and warehousing services in the United Kingdom, Ireland, and Europe.
See Also
- Five stocks we like better than Macfarlane Group
- 3 Best Fintech Stocks for a Portfolio Boost
- No New Highs for Cloudflare in 2024
- Stock Average Calculator
- Electronic Arts Earnings Engaging Players and Building Value
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- 3 Tripe-Digit Growth Mid Cap Stocks to Watch This Quarter
Receive News & Ratings for Macfarlane Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macfarlane Group and related companies with MarketBeat.com's FREE daily email newsletter.