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

Magellan Aerospace Co. (TSE:MAL - Get Free Report) reached a new 52-week high on Monday . The company 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.

Analyst Upgrades and Downgrades

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

Magellan Aerospace Stock Up 3.4%

The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 11.81. The business has a fifty day simple moving average of C$16.08 and a two-hundred day simple moving average of C$12.48. The company has a market capitalization of C$1.08 billion, a price-to-earnings ratio of 56.05, a P/E/G ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.02%. This is an increase from Magellan Aerospace's previous quarterly dividend of $0.03. The ex-dividend date is Monday, June 16th. Magellan Aerospace's payout ratio is presently 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.