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Morgan Advanced Materials Announces Share Buyback

Story Highlights
  • Morgan Advanced Materials operates in the advanced materials industry, focusing on high-performance materials.
  • The company repurchased 22,573 shares as part of a buyback programme, intending to cancel them.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Morgan Advanced Materials Announces Share Buyback

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Morgan Advanced Materials ( (GB:MGAM) ) has shared an announcement.

Morgan Advanced Materials PLC has announced the repurchase of 22,573 of its ordinary shares at prices ranging from 220.50 to 225.00 pence per share, with a weighted average price of 222.4731 pence. This buyback, conducted through Investec Bank plc, is part of a previously announced programme and the repurchased shares are intended to be canceled, which could potentially enhance shareholder value by reducing the number of shares outstanding.

The most recent analyst rating on (GB:MGAM) stock is a Buy with a £350.00 price target. To see the full list of analyst forecasts on Morgan Advanced Materials stock, see the GB:MGAM Stock Forecast page.

Spark’s Take on GB:MGAM Stock

According to Spark, TipRanks’ AI Analyst, GB:MGAM is a Neutral.

Morgan Advanced Materials benefits from a solid financial foundation and favorable valuation, with a strategic focus on enhancing shareholder value through share buybacks. However, concerns about revenue and net income growth dampen the overall score. Technical indicators support a positive trend, positioning the stock as a moderate investment opportunity.

To see Spark’s full report on GB:MGAM stock, click here.

More about Morgan Advanced Materials

Morgan Advanced Materials PLC operates in the advanced materials industry, focusing on the production of high-performance materials used in sectors such as transportation, healthcare, and electronics. The company is known for its innovative solutions in ceramics, carbon, and composites, catering to a global market with a strong emphasis on sustainability and efficiency.

Average Trading Volume: 623,317

Technical Sentiment Signal: Sell

Current Market Cap: £618.6M

See more insights into MGAM stock on TipRanks’ Stock Analysis page.

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