Algoma Central Co. (TSE:ALC - Get Free Report) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of C$14.98 and traded as high as C$15.29. Algoma Central shares last traded at C$15.29, with a volume of 3,000 shares.
Analyst Upgrades and Downgrades
Separately, BMO Capital Markets cut their target price on shares of Algoma Central from C$18.00 to C$15.00 in a research note on Monday, March 17th.
Check Out Our Latest Report on ALC
Algoma Central Stock Performance
The firm has a market capitalization of C$629.27 million, a price-to-earnings ratio of 8.53 and a beta of 0.72. 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's 50 day moving average price is C$15.01 and its two-hundred day moving average price is C$14.94.
Algoma Central Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, March 3rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date was Friday, February 14th. This is a positive change from Algoma Central's previous quarterly dividend of $0.19. Algoma Central's payout ratio is 42.19%.
Insiders Place Their Bets
In other news, Director Richard Brydone Carty sold 2,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of C$15.10, for a total transaction of C$30,200.00. 54.61% of the stock is currently owned by insiders.
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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