Spirax-Sarco Engineering plc (LON:SPX) Increases Dividend to GBX 114 Per Share

Spirax-Sarco Engineering plc (LON:SPX) declared a dividend on Thursday, March 7th, Upcoming.Co.Uk reports. Investors of record on Thursday, April 25th will be given a dividend of GBX 114 ($1.41) per share on Friday, May 24th. This represents a dividend yield of 1.11%. The ex-dividend date is Thursday, April 25th. This is a positive change from Spirax-Sarco Engineering’s previous dividend of $46.00. The official announcement can be accessed at this link.

Spirax-Sarco Engineering Trading Down 0.6 %

LON SPX opened at GBX 9,285 ($114.69) on Wednesday. The company has a debt-to-equity ratio of 97.01, a current ratio of 2.26 and a quick ratio of 1.73. The firm’s fifty day moving average price is £101.24 and its 200 day moving average price is GBX 9,639.96. The company has a market capitalization of £6.84 billion, a price-to-earnings ratio of 3,753.01, a price-to-earnings-growth ratio of 6.66 and a beta of 0.69. Spirax-Sarco Engineering has a 12 month low of GBX 7,900 ($97.58) and a 12 month high of £116.90 ($144.39).

Insider Activity

In other news, insider Nimesh Patel sold 660 shares of Spirax-Sarco Engineering stock in a transaction dated Monday, March 18th. The shares were sold at an average price of £105.27 ($130.03), for a total value of £69,478.20 ($85,817.93). Insiders own 0.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SPX shares. Jefferies Financial Group raised shares of Spirax-Sarco Engineering to a “hold” rating and set a GBX 9,740 ($120.31) target price on the stock in a research report on Wednesday, January 31st. Barclays lowered their price objective on shares of Spirax-Sarco Engineering from £105.80 ($130.68) to GBX 9,960 ($123.02) and set an “equal weight” rating on the stock in a research report on Tuesday, April 9th. Berenberg Bank raised their price objective on shares of Spirax-Sarco Engineering from GBX 8,800 ($108.70) to GBX 9,800 ($121.05) and gave the stock a “hold” rating in a research report on Friday, March 8th. Numis Securities reissued a “sell” rating on shares of Spirax-Sarco Engineering in a research report on Thursday, March 7th. Finally, Bank of America reissued a “buy” rating on shares of Spirax-Sarco Engineering in a research report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of £101.50 ($125.37).

Spirax-Sarco Engineering Company Profile

Spirax-Sarco Engineering plc provides engineered solutions for the users of industrial and commercial steam systems, electrical heating and temperature management systems, and pumps and fluid path technologies. 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 pumps, tubing, and specialty filling systems and products for single-use applications.