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Algoma Central (TSE:ALC) Sets New 52-Week High - Still a Buy?

Algoma Central logo with Industrials background

Key Points

  • Algoma Central Co. reached a new 52-week high of C$16.54, with shares trading at C$16.50 at the close.
  • The company recently announced a quarterly dividend of $0.20 per share, resulting in an annualized dividend of $0.80 and a yield of 4.9%.
  • Algoma Central operates a diverse fleet of bulk carriers and has a market cap of C$674.31 million with a price-to-earnings ratio of 9.14.
  • Looking to Export and Analyze Algoma Central Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Algoma Central Co. (TSE:ALC - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$16.54 and last traded at C$16.50, with a volume of 6895 shares. The stock had previously closed at C$16.20.

Algoma Central Trading Up 1.7%

The company has a fifty day simple moving average of C$16.17 and a 200-day simple moving average of C$15.50. 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 stock has a market cap of C$674.31 million, a price-to-earnings ratio of 9.14 and a beta of 0.72.

Algoma Central Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, June 2nd were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.80 annualized dividend and a dividend yield of 4.9%. Algoma Central's payout ratio is presently 42.19%.

Algoma Central Company Profile

(Get Free Report)

Algoma Central Corp owns and operates the fleet of dry and liquid bulk carriers operating on the Great Lakes, St. Lawrence Waterway. The company's Canadian flag fleet consists of self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers. The company operates its business through six segments that are Domestic Dry-Bulk, Product Tankers, Ocean SelfUnloaders, Corporate, Investment Properties, and Global Short Sea Shipping.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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