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Insider Selling: Cascades Inc. (TSE:CAS) Director Sells 74,608 Shares of Stock

Cascades logo with Consumer Cyclical background

Cascades Inc. (TSE:CAS - Get Free Report) Director Alain Lemaire sold 74,608 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of C$8.90, for a total value of C$664,011.20.

Cascades Price Performance

Shares of TSE:CAS traded up C$0.02 during midday trading on Friday, hitting C$9.26. The company had a trading volume of 69,797 shares, compared to its average volume of 260,636. Cascades Inc. has a twelve month low of C$8.30 and a twelve month high of C$13.42. The stock has a market cap of C$936.66 million, a price-to-earnings ratio of -12.49, a price-to-earnings-growth ratio of 0.56 and a beta of 0.15. The business's 50-day simple moving average is C$8.93 and its 200-day simple moving average is C$10.38. The company has a debt-to-equity ratio of 121.37, a current ratio of 1.22 and a quick ratio of 0.86.

Cascades Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, June 5th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.18%. The ex-dividend date was Thursday, May 22nd. Cascades's payout ratio is presently -64.73%.

Analyst Ratings Changes

Several research firms have commented on CAS. Royal Bank Of Canada cut their price objective on Cascades from C$13.00 to C$11.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 22nd. National Bankshares reduced their price objective on Cascades from C$14.00 to C$11.00 and set a "sector perform" rating for the company in a research note on Thursday, April 24th. TD Securities lowered Cascades from a "buy" rating to a "hold" rating and decreased their price objective for the company from C$12.00 to C$9.50 in a report on Friday, May 9th. Finally, CIBC dropped their target price on shares of Cascades from C$13.00 to C$10.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of C$11.40.

View Our Latest Research Report on CAS

Cascades Company Profile

(Get Free Report)

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.

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Insider Buying and Selling by Quarter for Cascades (TSE:CAS)

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