Magellan Aerospace Co. (TSE:MAL – Get Free Report) reached a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. 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 given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Wednesday, March 19th. Magellan Aerospace’s payout ratio is 28.61%.
Wall Street Analysts Forecast Growth
Separately, TD Securities boosted their target price on Magellan Aerospace from C$18.00 to C$19.00 and gave the stock a “buy” rating in a research report on Monday.
Magellan Aerospace Stock Performance
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 company has a 50-day moving average of C$10.01 and a 200 day moving average of C$10.06. The firm has a market capitalization of C$680.49 million, a PE ratio of 35.19, a PEG ratio of -21.36 and a beta of 1.11.
About Magellan Aerospace
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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