Bellway (LON:BWY) Reaches New 52-Week High Following Dividend Announcement

Bellway p.l.c. (LON:BWY)’s stock price reached a new 52-week high during trading on Tuesday after the company announced a dividend. The stock traded as high as GBX 3,280 ($42.83) and last traded at GBX 3,254 ($42.49), with a volume of 1267942 shares trading hands. The stock had previously closed at GBX 3,052 ($39.85).

The newly announced dividend which will be paid on Wednesday, January 8th. Shareholders of record on Thursday, November 28th will be issued a dividend of GBX 38 ($0.50) per share. This represents a yield of 1.15%. This is a positive change from Bellway’s previous dividend of $16.00. The ex-dividend date of this dividend is Thursday, November 28th. Bellway’s payout ratio is presently 6,166.67%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BWY shares. Citigroup reaffirmed a “buy” rating and set a GBX 3,368 ($43.98) price target on shares of Bellway in a research note on Thursday, August 15th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Bellway in a research report on Friday, July 5th. Finally, Berenberg Bank lifted their target price on Bellway from GBX 2,900 ($37.87) to GBX 3,200 ($41.79) and gave the stock a “hold” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of GBX 3,204.20 ($41.84).

Bellway Stock Performance

The company’s 50-day moving average price is GBX 3,061.58 and its two-hundred day moving average price is GBX 2,794.54. The company has a market capitalization of £3.96 billion, a price-to-earnings ratio of 1,850.00, a PEG ratio of 3.40 and a beta of 1.46. The company has a debt-to-equity ratio of 3.78, a current ratio of 5.78 and a quick ratio of 0.50.

Insider Activity at Bellway

In other Bellway news, insider Keith Adey sold 27,303 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of GBX 3,257 ($42.53), for a total transaction of £889,258.71 ($1,161,215.34). 3.73% of the stock is owned by company insiders.

Bellway Company Profile

Bellway p.l.c., together with its subsidiaries, engages in the home building business in the United Kingdom. The company builds and sells homes ranging from one-bedroom apartments to six-bedroom family homes, as well as provides homes to housing associations for social housing. It offers homes under Bellway, Ashberry, and Bellway London brands.