Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Chemtrade Logistics Income Fund (TSE:CHE.UN - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$10.33 and traded as high as C$11.15. Chemtrade Logistics Income Fund shares last traded at C$11.08, with a volume of 260,190 shares changing hands.

Analyst Ratings Changes

A number of research firms recently weighed in on CHE.UN. Desjardins upped their target price on shares of Chemtrade Logistics Income Fund from C$15.00 to C$15.50 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Raymond James upped their price objective on Chemtrade Logistics Income Fund from C$14.00 to C$15.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. National Bankshares raised their target price on Chemtrade Logistics Income Fund from C$16.50 to C$17.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Finally, CIBC upped their price target on Chemtrade Logistics Income Fund from C$10.50 to C$12.50 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$14.33.

Chemtrade Logistics Income Fund Trading Down 0.2%

The business has a 50 day moving average price of C$9.81 and a 200 day moving average price of C$10.32. The company has a market capitalization of C$1.31 billion, a P/E ratio of 10.20 and a beta of 1.50. The company has a current ratio of 0.40, a quick ratio of 0.48 and a debt-to-equity ratio of 128.02.

Chemtrade Logistics Income Fund Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were issued a $0.0575 dividend. This is a boost from Chemtrade Logistics Income Fund's previous monthly dividend of $0.06. The ex-dividend date was Friday, February 28th. This represents a $0.69 annualized dividend and a dividend yield of 6.15%. Chemtrade Logistics Income Fund's dividend payout ratio (DPR) is presently 60.00%.

Insider Activity

In other news, Senior Officer Scott William Rook acquired 12,428 shares of Chemtrade Logistics Income Fund stock in a transaction dated Monday, March 17th. The stock was bought at an average price of C$9.66 per share, for a total transaction of C$120,054.48. Also, Senior Officer Timothy Neil Montgomery bought 60,921 shares of the stock in a transaction dated Monday, April 14th. The shares were purchased at an average price of C$9.14 per share, for a total transaction of C$556,817.94. Insiders own 0.19% of the company's stock.

About Chemtrade Logistics Income Fund

Chemtrade Logistics Income Fund provides industrial chemicals and services in Canada, the United States, and South America. It operates through Sulphur Products & Performance Chemicals (SPPC), Water Solutions & Specialty Chemicals (WSSC), and Electrochemicals (EC) segments. The SPPC segment removes and/or produces merchant, regenerated, and ultra pure sulphuric acid, sodium hydrosulphite, elemental sulphur, liquid sulphur dioxide, hydrogen sulphide, sodium bisulphite, and sulphides.