IMI plc (LON:IMI – Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 1,846 ($23.19) and last traded at GBX 1,846 ($23.19), with a volume of 544627 shares. The stock had previously closed at GBX 1,803 ($22.65).
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on IMI shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a GBX 2,150 ($27.01) price target on shares of IMI in a research report on Thursday, February 29th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 1,950 ($24.50) target price on shares of IMI in a research report on Monday, March 4th.
Get Our Latest Research Report on IMI
IMI Trading Up 2.4 %
IMI Increases Dividend
The company also recently declared a dividend, which will be paid on Friday, May 17th. Shareholders of record on Thursday, April 4th will be given a dividend of GBX 19.20 ($0.24) per share. The ex-dividend date is Thursday, April 4th. This represents a yield of 1.11%. This is a boost from IMI’s previous dividend of $9.10. IMI’s payout ratio is currently 3,010.75%.
Insider Buying and Selling at IMI
In related news, insider Roy Twite sold 57,067 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of GBX 1,819 ($22.85), for a total transaction of £1,038,048.73 ($1,304,081.32). Company insiders own 1.41% of the company’s stock.
IMI Company Profile
IMI plc, a specialist engineering company, designs and manufactures engineering products in the United Kingdom, Germany, rest of Europe, the United States of America, rest of the Americas, China, rest of Asia Pacific, the Middle East, and Africa. It operates through IMI Precision Engineering, IMI Critical Engineering, and IMI Hydronic Engineering segments.
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