Algoma Central (TSE:ALC) Stock Crosses Above Fifty Day Moving Average - Here's What Happened

Algoma Central Co. (TSE:ALC - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$15.04 and traded as high as C$15.41. Algoma Central shares last traded at C$15.25, with a volume of 7,847 shares changing hands.

Analysts Set New Price Targets

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

Algoma Central Stock Down 0.7 %

The business has a fifty day moving average price of C$15.04 and a two-hundred day moving average price of C$14.94. 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 company has a market cap of C$624.36 million, a price-to-earnings ratio of 8.47 and a beta of 0.72.

Algoma Central Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, March 3rd were given a $0.20 dividend. This is an increase from Algoma Central's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.80 dividend on an annualized basis and a yield of 5.25%. Algoma Central's dividend payout ratio is presently 42.19%.

Insider Activity

In related 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 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.

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