Magellan Aerospace (TSE:MAL) Hits New 52-Week High - Here's What Happened

Magellan Aerospace Co. (TSE:MAL - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as C$19.22 and last traded at C$19.08, with a volume of 13364 shares changing hands. The stock had previously closed at C$18.57.

Wall Street Analyst Weigh In

Separately, TD Securities raised their price objective on shares of Magellan Aerospace from C$19.00 to C$20.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd.

Magellan Aerospace Price Performance

The company's 50 day simple moving average is C$15.59 and its 200 day simple moving average is C$12.28. The company has a debt-to-equity ratio of 11.81, a current ratio of 2.58 and a quick ratio of 1.55. The stock has a market cap of C$1.04 billion, a P/E ratio of 53.79, a P/E/G ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 30th will be given a $0.05 dividend. The ex-dividend date is Monday, June 16th. This is a positive change from Magellan Aerospace's previous quarterly dividend of $0.03. This represents a $0.20 annualized dividend and a dividend yield of 1.06%. Magellan Aerospace's payout ratio is currently 28.61%.

About Magellan Aerospace

Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.

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