Algoma Central Co. (TSE:ALC - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$15.60 and last traded at C$15.60, with a volume of 3017 shares changing hands. The stock had previously closed at C$15.57.
Wall Street Analysts Forecast Growth
Separately, BMO Capital Markets dropped their price target on Algoma Central from C$18.00 to C$15.00 in a research report on Monday, March 17th.
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Algoma Central Price Performance
The company's fifty day moving average price is C$15.20 and its two-hundred day moving average price is C$14.98. The company has a market cap of C$659.57 million, a price-to-earnings ratio of 8.94 and a beta of 0.72. The company has a quick ratio of 2.06, a current ratio of 0.76 and a debt-to-equity ratio of 50.70.
Algoma Central Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, June 2nd will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.97%. Algoma Central's payout ratio is 42.19%.
Insiders Place Their Bets
In related news, Director Richard Brydone Carty sold 2,000 shares of Algoma Central stock in a transaction on Friday, February 28th. The shares were sold at an average price of C$15.10, for a total transaction of C$30,200.00. Company insiders own 54.61% of the company's stock.
Algoma Central Company Profile
(
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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.
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