Shares of Grafton Group plc (LON:GFTU – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 1,003 ($12.68) and last traded at GBX 1,002 ($12.66), with a volume of 417884 shares traded. The stock had previously closed at GBX 991.80 ($12.53).
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. Berenberg Bank increased their target price on Grafton Group from GBX 1,000 ($12.64) to GBX 1,100 ($13.90) and gave the company a “buy” rating in a report on Thursday, March 7th. Numis Securities reiterated a “buy” rating and issued a GBX 1,200 ($15.16) price objective on shares of Grafton Group in a research note on Thursday, March 7th.
Read Our Latest Report on Grafton Group
Grafton Group Price Performance
Grafton Group Increases Dividend
The company also recently announced a dividend, which will be paid on Thursday, May 9th. Stockholders of record on Thursday, April 11th will be issued a GBX 26 ($0.33) dividend. This represents a dividend yield of 2.7%. This is a boost from Grafton Group’s previous dividend of $10.00. The ex-dividend date of this dividend is Thursday, April 11th. Grafton Group’s payout ratio is 4,285.71%.
Insiders Place Their Bets
In related news, insider David Arnold sold 11,667 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of GBX 977 ($12.35), for a total value of £113,986.59 ($144,049.78). Corporate insiders own 9.02% of the company’s stock.
Grafton Group Company Profile
Grafton Group plc engages in the distribution, retailing, and manufacturing businesses in Ireland, the Netherlands, Finland, and the United Kingdom. Its Distribution segment distributes building and plumbing materials to professional trades people engaged in residential repair, maintenance, and improvement projects, as well as in residential and other new build construction.
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