Berenberg Bank Cuts Victrex (LON:VCT) Price Target to GBX 1,170

Victrex (LON:VCT) had its target price cut by Berenberg Bank from GBX 1,290 ($16.45) to GBX 1,170 ($14.92) in a report issued on Wednesday, MarketBeat reports. They currently have a hold rating on the stock.

Victrex Trading Up 1.5 %

LON VCT opened at GBX 1,096 ($13.97) on Wednesday. The stock has a market cap of £953.85 million, a P/E ratio of 3,131.43, a PEG ratio of 1.92 and a beta of 0.69. The company’s fifty day simple moving average is GBX 899.12 and its 200-day simple moving average is GBX 1,031.31. The company has a current ratio of 5.30, a quick ratio of 1.99 and a debt-to-equity ratio of 16.99. Victrex has a 52 week low of GBX 816 ($10.40) and a 52 week high of GBX 1,575 ($20.08).

Victrex Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, February 21st. Stockholders of record on Thursday, January 23rd will be paid a GBX 46.14 ($0.59) dividend. This represents a dividend yield of 5.26%. The ex-dividend date is Thursday, January 23rd. This is a positive change from Victrex’s previous dividend of $13.42. Victrex’s dividend payout ratio is 17,142.86%.

Insider Buying and Selling at Victrex

In other news, insider Janet E. Ashdown bought 2,103 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average price of GBX 951 ($12.12) per share, with a total value of £19,999.53 ($25,496.60). Also, insider Jane Toogood acquired 508 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was purchased at an average cost of GBX 937 ($11.95) per share, for a total transaction of £4,759.96 ($6,068.28). Insiders have bought 3,591 shares of company stock worth $3,474,569 over the last quarter. 1.64% of the stock is owned by corporate insiders.

About Victrex

Victrex plc, through its subsidiaries, engages in the manufacture and sale of polymer solutions worldwide. The company operates through two segments, Sustainable Solutions and Medical. It develops PEEK and PAEK based polymer solutions, and semi-finished and finished parts. The company also provides specialist solutions for medical device manufacturers; sells thermoplastic polymers; sustainable solutions for energy and industrial, VAR, automotive, aerospace, and electronics markets; and engages in trading activities.