Macfarlane Group PLC (LON:MACF – Get Free Report)’s share price dropped 7.7% 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 traded hands 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).
Analyst Upgrades and Downgrades
MACF has been the subject of several research reports. Shore Capital reissued a “house stock” rating on shares of Macfarlane Group in a report on Thursday, February 29th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 145 ($1.82) price objective on shares of Macfarlane Group in a research note on Thursday, February 29th.
Read Our Latest Report on Macfarlane Group
Macfarlane Group Trading Down 8.5 %
Macfarlane Group Increases Dividend
The business also recently disclosed a dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 9th will be paid a dividend of GBX 2.65 ($0.03) per share. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from Macfarlane Group’s previous dividend of $0.94. This represents a yield of 2.15%. Macfarlane Group’s dividend payout ratio is currently 4,444.44%.
Insider Buying and Selling at Macfarlane Group
In other news, insider Ivor Gray sold 97,361 shares of the 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 transaction of £130,463.74 ($163,899.17). 16.70% of the stock is owned by company insiders.
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.
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