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Michelmersh Brick Holdings ( (GB:MBH) ) has issued an update.
Michelmersh Brick Holdings PLC has executed a share buyback, purchasing 10,000 ordinary shares at a price of 103.50 pence each on the London Stock Exchange. This transaction is part of a previously announced Share Buyback Programme, and the repurchased shares will be held in treasury. The move is likely to impact the company’s share capital structure, with 93,185,400 ordinary shares now in issue, excluding treasury shares. Shareholders can use this updated figure for regulatory calculations under the Financial Conduct Authority’s rules.
The most recent analyst rating on (GB:MBH) stock is a Buy with a £114.00 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 UK, specializing in the production of clay bricks and pavers through its seven market-leading brands, including Blockleys, Carlton, and Charnwood. The company, established in 1997, has expanded through acquisitions and organic growth, producing over 120 million units annually. Michelmersh is committed to sustainability and environmental responsibility, aiming to enhance the architectural landscape with premium clay products.
Average Trading Volume: 151,900
Technical Sentiment Signal: Buy
Current Market Cap: £96.72M
Learn more about MBH stock on TipRanks’ Stock Analysis page.