Macfarlane Group (LON:MACF) Stock Crosses Below 50 Day Moving Average – Here’s What Happened

Shares of Macfarlane Group PLC (LON:MACF) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 118.17 ($1.58) and traded as low as GBX 109.50 ($1.46). Macfarlane Group shares last traded at GBX 110 ($1.47), with a volume of 243,150 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MACF. Berenberg Bank raised their target price on shares of Macfarlane Group from GBX 145 ($1.94) to GBX 150 ($2.01) and gave the stock a “buy” rating in a research report on Monday, July 8th. Shore Capital reaffirmed a “house stock” rating on shares of Macfarlane Group in a research report on Thursday, August 22nd.

Macfarlane Group Trading Down 0.5 %

The company has a quick ratio of 0.79, a current ratio of 1.20 and a debt-to-equity ratio of 44.58. The company has a market capitalization of £173.17 million, a PE ratio of 1,205.56 and a beta of 0.68. The stock’s 50 day moving average is GBX 117.11 and its two-hundred day moving average is GBX 125.53.

Macfarlane Group Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 12th will be paid a dividend of GBX 0.96 ($0.01) per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a dividend yield of 0.8%. Macfarlane Group’s dividend payout ratio is presently 4,444.44%.

About Macfarlane Group

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.