Ultimate Products (LON:ULTP) Stock Price Down 2.6% – What’s Next?

Ultimate Products Plc (LON:ULTP) shares dropped 2.6% during mid-day trading on Thursday . The stock traded as low as GBX 63 ($0.84) and last traded at GBX 63 ($0.84). Approximately 250,281 shares changed hands during mid-day trading, an increase of 38% from the average daily volume of 181,158 shares. The stock had previously closed at GBX 64.70 ($0.86).

Wall Street Analyst Weigh In

A number of research firms have commented on ULTP. Shore Capital reaffirmed a “house stock” rating on shares of Ultimate Products in a report on Tuesday, March 25th. Canaccord Genuity Group restated a “buy” rating and issued a GBX 130 ($1.73) price objective on shares of Ultimate Products in a report on Tuesday, March 25th.

Ultimate Products Stock Down 2.6 %

The firm has a market cap of £53.46 million, a price-to-earnings ratio of 5.17 and a beta of 1.39. The company has a 50-day moving average price of GBX 73.58 and a 200 day moving average price of GBX 102.26.

Ultimate Products (LON:ULTP) last released its earnings results on Tuesday, March 25th. The company reported GBX 4.30 ($0.06) EPS for the quarter. Ultimate Products had a net margin of 6.77% and a return on equity of 21.95%. Equities analysts forecast that Ultimate Products Plc will post 14.53125 EPS for the current year.

Ultimate Products Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, May 29th will be issued a dividend of GBX 1.55 ($0.02) per share. This represents a dividend yield of 2.16%. The ex-dividend date is Thursday, May 29th. Ultimate Products’s dividend payout ratio (DPR) is presently 57.44%.

About Ultimate Products

Ultimate Products is the owner of a number of leading homeware brands including Salter (the UK’s oldest houseware brand, established in 1760) and Beldray (a laundry, floor care, heating and cooling brand that was established in 1872). According to its market research, nearly 80% of UK households own at least one of the Group’s products.

Ultimate Products sells to over 300 retailers across 38 countries, and specialises in five product categories: Small Domestic Appliances; Housewares; Laundry; Audio; and Heating and Cooling.