Spirax-Sarco Engineering plc (LON:SPX – Get Free Report) reached a new 52-week low during trading on Tuesday . The company traded as low as GBX 6,850 ($89.45) and last traded at GBX 6,855 ($89.51), with a volume of 401732 shares changing hands. The stock had previously closed at GBX 6,925 ($90.43).
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on SPX shares. Shore Capital reiterated a “sell” rating on shares of Spirax-Sarco Engineering in a research report on Friday, August 30th. Royal Bank of Canada cut their target price on Spirax-Sarco Engineering from GBX 8,000 ($104.47) to GBX 7,000 ($91.41) and set an “underperform” rating on the stock in a research report on Thursday, August 15th. Berenberg Bank restated a “hold” rating and set a GBX 8,150 ($106.42) price target on shares of Spirax-Sarco Engineering in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group dropped their price objective on Spirax-Sarco Engineering from GBX 9,690 ($126.53) to GBX 9,580 ($125.10) and set a “hold” rating for the company in a research note on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Spirax-Sarco Engineering currently has a consensus rating of “Hold” and an average target price of GBX 8,672.50 ($113.25).
Read Our Latest Stock Analysis on SPX
Spirax-Sarco Engineering Stock Performance
Spirax-Sarco Engineering Cuts Dividend
The business also recently disclosed a dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 17th will be paid a GBX 47.50 ($0.62) dividend. This represents a dividend yield of 0.56%. The ex-dividend date of this dividend is Thursday, October 17th. Spirax-Sarco Engineering’s payout ratio is presently 6,230.77%.
Insider Transactions at Spirax-Sarco Engineering
In other news, insider Kevin J. Thompson bought 640 shares of Spirax-Sarco Engineering stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of GBX 7,655 ($99.96) per share, with a total value of £48,992 ($63,974.93). Corporate insiders own 0.73% of the company’s stock.
About Spirax-Sarco Engineering
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.
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