Insider Buying: Spirax-Sarco Engineering plc (LON:SPX) Insider Acquires £48,992 in Stock

Spirax-Sarco Engineering plc (LON:SPX) insider Kevin J. Thompson bought 640 shares of the company’s stock in a transaction on Friday, August 9th. The stock was purchased at an average cost of GBX 7,655 ($97.74) per share, for a total transaction of £48,992 ($62,553.63).

Spirax-Sarco Engineering Price Performance

Shares of LON:SPX opened at GBX 7,565 ($96.59) on Thursday. The company has a market capitalization of £5.57 billion, a P/E ratio of 3,038.15, a P/E/G ratio of 2.63 and a beta of 0.71. Spirax-Sarco Engineering plc has a 1-year low of GBX 7,490 ($95.63) and a 1-year high of £112.80 ($144.02). The firm’s 50 day simple moving average is GBX 8,546.17 and its two-hundred day simple moving average is GBX 9,329.34. The company has a debt-to-equity ratio of 97.01, a current ratio of 2.26 and a quick ratio of 1.73.

Spirax-Sarco Engineering Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 17th will be paid a dividend of GBX 47.50 ($0.61) per share. This represents a dividend yield of 0.56%. The ex-dividend date of this dividend is Thursday, October 17th. Spirax-Sarco Engineering’s dividend payout ratio (DPR) is 6,425.70%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SPX shares. Berenberg Bank dropped their price objective on shares of Spirax-Sarco Engineering from GBX 9,800 ($125.13) to GBX 8,150 ($104.06) and set a “hold” rating on the stock in a report on Friday, August 9th. Jefferies Financial Group decreased their target price on Spirax-Sarco Engineering from GBX 9,690 ($123.72) to GBX 9,580 ($122.32) and set a “hold” rating on the stock in a report on Friday, July 12th. Finally, Shore Capital reissued a “sell” rating on shares of Spirax-Sarco Engineering in a report on Wednesday, May 15th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of GBX 9,697.50 ($123.82).

Spirax-Sarco Engineering Company Profile

Spirax-Sarco Engineering plc provides engineered solutions it operates through three segments: Steam Thermal Solutions; Electric Thermal Solutions; and Watson-Marlow Fluid Technology Solutions. The company offers industrial and commercial steam systems, including condensate management, controls, and thermal energy management products and solutions for heating, curing, cooking, drying, cleaning, sterilizing, space heating, humidifying, vacuum packing, and producing hot water; electrical process heating and temperature management solutions, such as industrial heaters and systems, heat tracing, and various component technologies for industrial processes; and peristaltic and niche pumps and associated fluid path technologies, including tubing, and specialty filling systems and products for single-use applications.