Algoma Central (TSE:ALC) Sets New 1-Year High - What's Next?

Algoma Central Co. (TSE:ALC - Get Free Report) shares hit 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. The stock had previously closed at C$15.57.

Analysts Set New Price Targets

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

Algoma Central Stock Performance

The company has a 50-day moving average of C$15.14 and a 200-day moving average of C$14.97. The company has a quick ratio of 2.06, a current ratio of 0.76 and a debt-to-equity ratio of 50.70. The company has a market cap of C$657.11 million, a PE ratio of 8.91 and a beta of 0.72.

Algoma Central Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, June 2nd will be paid a dividend of $0.20 per share. 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 4.98%. Algoma Central's payout ratio is 42.19%.

Insider Activity at Algoma Central

In other news, Director Richard Brydone Carty sold 2,000 shares of the company's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of C$15.10, for a total value of C$30,200.00. 54.61% of the stock is currently owned by corporate insiders.

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.