Algoma Central (TSE:ALC) Stock Crosses Above 50-Day Moving Average – What’s Next?

Algoma Central Co. (TSE:ALC)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$15.01 and traded as high as C$15.48. Algoma Central shares last traded at C$15.36, with a volume of 8,279 shares trading hands.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets decreased their price objective on shares of Algoma Central from C$18.00 to C$15.00 in a report on Monday, March 17th.

Algoma Central Stock Down 0.1 %

The company has a current ratio of 0.76, a quick ratio of 2.06 and a debt-to-equity ratio of 50.70. The firm’s fifty day moving average price is C$15.01 and its 200-day moving average price is C$14.88. The company has a market cap of C$628.86 million, a price-to-earnings ratio of 8.53 and a beta of 0.72.

Algoma Central Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, March 3rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.21%. This is a boost from Algoma Central’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, February 14th. Algoma Central’s payout ratio is presently 42.19%.

Insiders Place Their Bets

In other Algoma Central news, Director Richard Brydone Carty sold 2,000 shares of Algoma Central stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of C$15.10, for a total value of C$30,200.00. Corporate insiders own 54.61% of the company’s stock.

Algoma Central Company Profile

Algoma Central Corporation owns and operates a fleet of dry and liquid bulk carriers activities in Canada. The company operates through Domestic Dry-Bulk, Product Tankers, Ocean Self-Unloaders, Global Short Sea Shipping, and Investment Properties segments. The company operates dry-bulk carriers for industrial sectors, including producers in iron and steel, aggregate, cement and building materials, and salt producers as well as, agricultural product distributors.