Ultimate Products (LON:ULTP) Stock Price Up 0.3% – Here’s Why

Shares of Ultimate Products Plc (LON:ULTP) shot up 0.3% during mid-day trading on Monday . The company traded as high as GBX 77.60 ($1.05) and last traded at GBX 74.60 ($1.01). 385,751 shares changed hands during trading, an increase of 71% from the average session volume of 226,200 shares. The stock had previously closed at GBX 74.40 ($1.01).

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ULTP. Shore Capital restated a “house stock” rating on shares of Ultimate Products in a report on Friday, April 25th. Canaccord Genuity Group restated a “buy” rating and set a GBX 130 ($1.76) price target on shares of Ultimate Products in a report on Tuesday, March 25th.

Ultimate Products Price Performance

The stock’s fifty day simple moving average is GBX 68.08 and its 200-day simple moving average is GBX 87.53. The company has a market capitalization of £63.30 million, a P/E ratio of 6.12 and a beta of 1.39.

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

Ultimate Products Cuts Dividend

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