Midwich Group (LON:MIDW) Stock Price Down 2.8%

Midwich Group plc (LON:MIDW) shares dropped 2.8% during mid-day trading on Friday . The company traded as low as GBX 416 ($5.14) and last traded at GBX 423 ($5.22). Approximately 105,788 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 172,102 shares. The stock had previously closed at GBX 435 ($5.37).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 710 ($8.77) price objective on shares of Midwich Group in a research note on Thursday, February 15th.

Midwich Group Price Performance

The company has a debt-to-equity ratio of 82.76, a quick ratio of 0.78 and a current ratio of 1.43. The firm has a fifty day simple moving average of GBX 400.16 and a 200 day simple moving average of GBX 396.57. The company has a market capitalization of £429.60 million, a PE ratio of 1,566.67 and a beta of 0.65.

Midwich Group Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, June 14th. Stockholders of record on Thursday, May 9th will be given a dividend of GBX 11 ($0.14) per share. This is an increase from Midwich Group’s previous dividend of $5.50. The ex-dividend date of this dividend is Thursday, May 9th. This represents a dividend yield of 2.78%. Midwich Group’s dividend payout ratio is presently 6,296.30%.

Insider Activity at Midwich Group

In other news, insider Stephen Lamb sold 115,545 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of GBX 413 ($5.10), for a total value of £477,200.85 ($589,427.93). 22.15% of the stock is currently owned by corporate insiders.

About Midwich Group

Midwich Group plc, together with its subsidiaries, engages in the distribution of audio visual (AV) solutions to the trade customers in the United Kingdom, Ireland, rest of Europe, the Middle East, Africa, the Asia Pacific, and North America. Its products support various AV categories, such as displays, projectors, technical and professional video products, audio and digital signage products, and broadcast products, as well as lighting and unified communications.