MJ Gleeson (LON:GLE) Receives Buy Rating from Berenberg Bank

Berenberg Bank reissued their buy rating on shares of MJ Gleeson (LON:GLE) in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. Berenberg Bank currently has a GBX 643 ($8.49) price objective on the stock.

MJ Gleeson Stock Down 2.6 %

GLE opened at GBX 592 ($7.82) on Wednesday. The company has a market cap of £345.61 million, a PE ratio of 2,041.38 and a beta of 1.14. MJ Gleeson has a twelve month low of GBX 381 ($5.03) and a twelve month high of GBX 630 ($8.32). The company has a 50-day moving average price of GBX 588.78 and a 200 day moving average price of GBX 547.41. The company has a quick ratio of 0.89, a current ratio of 4.61 and a debt-to-equity ratio of 8.37.

MJ Gleeson Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a GBX 7 ($0.09) dividend. This represents a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, October 24th. This is an increase from MJ Gleeson’s previous dividend of $4.00. MJ Gleeson’s dividend payout ratio (DPR) is 4,482.76%.

Insider Buying and Selling

In other news, insider Christopher H. B. Mills sold 200,000 shares of the firm’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of GBX 600 ($7.93), for a total value of £1,200,000 ($1,585,204.76). 16.93% of the stock is owned by company insiders.

MJ Gleeson Company Profile

MJ Gleeson plc engages in low-cost house building and land promotion activities in the United Kingdom. The company operates through two divisions, Gleeson Homes and Gleeson Land. It also engages in the house building activities in the north of England and Midlands; and sale of land in the south of England.