Algoma Central (TSE:ALC) Stock Passes Above Fifty Day Moving Average - Time to Sell?

Algoma Central Co. (TSE:ALC - Get Free Report)'s share price crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$15.40 and traded as high as C$16.20. Algoma Central shares last traded at C$16.10, with a volume of 8,355 shares changing hands.

Wall Street Analysts Forecast Growth

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

Algoma Central Stock Performance

The company has a market cap of C$659.98 million, a PE ratio of 8.95 and a beta of 0.72. The company has a debt-to-equity ratio of 50.70, a current ratio of 0.76 and a quick ratio of 2.06. The business has a 50-day moving average of C$15.43 and a 200 day moving average of C$15.08.

Algoma Central Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, June 2nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend was Friday, May 16th. Algoma Central's dividend payout ratio is presently 42.19%.

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.