The Weir Group (LON:WEIR) Share Price Passes Above Two Hundred Day Moving Average of $2,003.03

The Weir Group PLC (LON:WEIR) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 2,003.03 ($26.46) and traded as high as GBX 2,096 ($27.69). The Weir Group shares last traded at GBX 2,086 ($27.56), with a volume of 318,435 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WEIR. Berenberg Bank reduced their price target on shares of The Weir Group from GBX 2,600 ($34.35) to GBX 2,450 ($32.36) and set a “buy” rating for the company in a research report on Tuesday, August 6th. Royal Bank of Canada increased their price target on shares of The Weir Group from GBX 2,475 ($32.69) to GBX 2,500 ($33.03) and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Shore Capital reaffirmed a “buy” rating on shares of The Weir Group in a research report on Tuesday, August 20th.

The Weir Group Stock Performance

The stock has a market cap of £5.46 billion, a P/E ratio of 2,498.82, a price-to-earnings-growth ratio of 2.59 and a beta of 1.41. The firm’s 50-day moving average is GBX 1,958.36 and its two-hundred day moving average is GBX 2,005.01. The company has a quick ratio of 1.16, a current ratio of 2.07 and a debt-to-equity ratio of 79.85.

The Weir Group Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 3rd will be given a dividend of GBX 17.90 ($0.24) per share. This represents a yield of 0.93%. The ex-dividend date of this dividend is Thursday, October 3rd. The Weir Group’s payout ratio is presently 4,588.24%.

Insider Buying and Selling at The Weir Group

In related news, insider Nick Anderson purchased 3,100 shares of the stock in a transaction on Tuesday, September 10th. The shares were bought at an average price of GBX 1,959 ($25.88) per share, for a total transaction of £60,729 ($80,223.25). Corporate insiders own 0.42% of the company’s stock.

About The Weir Group

The Weir Group PLC produces and sells highly engineered original equipment worldwide. It operates in two segments, Minerals and ESCO. The Minerals segment offers engineering, manufacturing, and service processing technology for the use in abrasive high-wear mining applications; and differentiated technology for the use in infrastructure and general industrial markets.