Melrose Industries (LON:MRO) Trading Down 8.4%

Shares of Melrose Industries PLC (LON:MRO) traded down 8.4% during mid-day trading on Thursday . The company traded as low as GBX 534.90 ($6.88) and last traded at GBX 539.20 ($6.94). 66,896,922 shares were traded during trading, an increase of 1,081% from the average session volume of 5,666,080 shares. The stock had previously closed at GBX 588.80 ($7.57).

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada raised Melrose Industries to an “outperform” rating and set a GBX 650 ($8.36) target price for the company in a report on Monday, July 8th.

Melrose Industries Trading Down 10.7 %

The firm has a fifty day simple moving average of GBX 587.19 and a two-hundred day simple moving average of GBX 608.39. The firm has a market capitalization of £6.84 billion, a P/E ratio of -30,060.00, a price-to-earnings-growth ratio of 0.73 and a beta of 1.59. The company has a debt-to-equity ratio of 23.05, a current ratio of 0.86 and a quick ratio of 0.45.

Melrose Industries Cuts Dividend

The business also recently announced a dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 8th will be given a dividend of GBX 2 ($0.03) per share. The ex-dividend date is Thursday, August 8th. This represents a dividend yield of 0.34%.

Insiders Place Their Bets

In related news, insider Justin Dowley bought 2,950 shares of the company’s stock in a transaction on Monday, May 13th. The shares were purchased at an average price of GBX 598 ($7.69) per share, for a total transaction of £17,641 ($22,692.31). Company insiders own 0.99% of the company’s stock.

Melrose Industries Company Profile

Melrose Industries PLC, together with its subsidiaries, provides aerospace components and systems to civil and defence markets in the United Kingdom, rest of Europe, North America, and internationally. The company operates through two segments, Engines and Structures. The Engines segment offers structural engineered components; parts repair; and commercial and aftermarket contracts to engines original equipment manufacturers.