Brookfield Business Partners (TSE:BBU.UN) Sets New 52-Week High - Time to Buy?

Key Points

• Brookfield Business Partners reached a new 52-week high of C$39.70, closing at C$39.40 with a trading volume of 21,574 shares.
• The company announced a quarterly dividend of $0.0625 to be paid on September 29th, reflecting an annualized yield of 0.6%.
• Insider activity saw Director Anne Ruth Herkes purchasing 604 shares at an average price of C$41.50, indicating confidence in the company's prospects.

Brookfield Business Partners LP (TSE:BBU.UN - )'s share price reached a new 52-week high on Tuesday . The company traded as high as C$39.70 and last traded at C$39.40, with a volume of 21574 shares changing hands. The stock had previously closed at C$38.60.

Brookfield Business Partners Price Performance

The business's 50 day simple moving average is C$36.21 and its two-hundred day simple moving average is C$34.05. The stock has a market capitalization of C$3.50 billion, a P/E ratio of -281.43, a price-to-earnings-growth ratio of 2.61 and a beta of 1.69. The company has a quick ratio of 0.65, a current ratio of 1.00 and a debt-to-equity ratio of 241.05.

Brookfield Business Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 29th will be issued a $0.0625 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.25 annualized dividend and a dividend yield of 0.6%. Brookfield Business Partners's dividend payout ratio is currently -178.57%.

Insider Activity at Brookfield Business Partners

In other news, Director Anne Ruth Herkes bought 604 shares of the stock in a transaction dated Thursday, June 26th. The stock was bought at an average price of C$41.50 per share, for a total transaction of C$25,064.20. 3.96% of the stock is currently owned by corporate insiders.

About Brookfield Business Partners

Brookfield Business Partners L.P. is a private equity firm specializes in acquisition. The firm typically invests in business services, construction, energy, and industrials sector. It prefers to take majority stake in companies. The firm seeks returns of at least 15% on its investments. Brookfield Business Partners L.P.

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