Shares of Magellan Aerospace Co. (TSE:MAL – Get Free Report) reached a new 52-week high on Wednesday following a dividend announcement from the company. The company traded as high as C$11.05 and last traded at C$11.05, with a volume of 13400 shares. The stock had previously closed at C$10.88.
The newly announced dividend which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.10 dividend on an annualized basis and a yield of 0.81%. Magellan Aerospace’s dividend payout ratio (DPR) is currently 28.61%.
Analysts Set New Price Targets
Separately, TD Securities lifted their price target on Magellan Aerospace from C$18.00 to C$19.00 and gave the stock a “buy” rating in a report on Monday.
Magellan Aerospace Stock Up 10.3 %
The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 11.81. The stock has a 50-day simple moving average of C$10.01 and a 200-day simple moving average of C$10.06. The firm has a market capitalization of C$680.49 million, a PE ratio of 35.19, a P/E/G ratio of -21.36 and a beta of 1.11.
Magellan Aerospace Company Profile
Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.
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