Chemtrade Logistics Income Fund (TSE:CHE.UN) Reaches New 12-Month High - Here's What Happened

Key Points

• Chemtrade Logistics Income Fund's shares reached a new 52-week high at C$13.53 during trading on Tuesday, reflecting positive market performance.
• Multiple analysts have upgraded their ratings for Chemtrade, with the consensus target price set at C$15.25 and a majority rating it as a "Moderate Buy."
• The company announced a monthly dividend of $0.0575, which will be paid on October 31st, resulting in an annualized yield of 5.1%.

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$13.53 and last traded at C$13.47, with a volume of 43705 shares changing hands. The stock had previously closed at C$13.44.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Desjardins boosted their target price on shares of Chemtrade Logistics Income Fund from C$15.50 to C$16.00 and gave the company a "buy" rating in a report on Monday, August 18th. Raymond James Financial upped their price objective on Chemtrade Logistics Income Fund from C$15.00 to C$16.00 in a report on Monday, August 18th. Finally, Scotiabank raised Chemtrade Logistics Income Fund from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from C$13.50 to C$15.00 in a research note on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$15.25.

Chemtrade Logistics Income Fund Stock Performance

The stock has a 50-day moving average price of C$12.57 and a 200 day moving average price of C$11.18. The company has a quick ratio of 0.48, a current ratio of 0.40 and a debt-to-equity ratio of 128.02. The firm has a market capitalization of C$1.52 billion, a price-to-earnings ratio of 12.57 and a beta of 1.29.

Chemtrade Logistics Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 31st will be issued a $0.0575 dividend. The ex-dividend date is Monday, September 29th. This represents a c) annualized dividend and a dividend yield of 5.1%. Chemtrade Logistics Income Fund's dividend payout ratio is presently 63.08%.

Chemtrade Logistics Income Fund Company Profile

Chemtrade Logistics Income Fund provides industrial chemicals and services to customers in North America and around the world. The company organized into four main operating segments: Sulphur Products and Performance Chemicals (SPPC), Water Solutions and Specialty Chemicals (WSSC), Electrochemicals, and Corporate.

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