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Michelmersh Brick Holdings ( (GB:MBH) ) has provided an announcement.
Michelmersh Brick Holdings PLC has announced the purchase of 17,000 ordinary shares as part of its ongoing Share Buyback Programme. The shares were acquired at a consistent price of 97.50 pence each on the London Stock Exchange. This transaction will see the company holding these shares in treasury, adjusting the number of shares in issue to 92,901,900. This strategic move is part of Michelmersh’s efforts to manage its share capital effectively, potentially impacting shareholder calculations regarding their interests in the company.
The most recent analyst rating on (GB:MBH) stock is a Buy with a £150.00 price target. To see the full list of analyst forecasts on Michelmersh Brick Holdings stock, see the GB:MBH Stock Forecast page.
Spark’s Take on GB:MBH Stock
According to Spark, TipRanks’ AI Analyst, GB:MBH is a Outperform.
Michelmersh Brick Holdings demonstrates strong financial stability and strategic corporate actions, such as share buybacks and a new CFO appointment, which bolster its market position. However, technical indicators show bearish momentum, which could pose short-term risks. The stock’s reasonable valuation and attractive dividend yield provide a balanced investment opportunity.
To see Spark’s full report on GB:MBH stock, click here.
More about Michelmersh Brick Holdings
Michelmersh Brick Holdings PLC is a prominent manufacturer in the construction industry, known for its seven leading brands including Blockleys, Carlton, and Charnwood. The company specializes in the production of clay bricks and pavers, producing over 120 million units annually. Michelmersh is recognized for its premium manufacturing brands in the UK and is committed to sustainable, environmentally responsible business practices.
Average Trading Volume: 238,491
Technical Sentiment Signal: Hold
Current Market Cap: £90.97M
Learn more about MBH stock on TipRanks’ Stock Analysis page.