Magellan Aerospace Co. (TSE:MAL - Get Free Report)'s stock price reached a new 52-week high on Monday following a dividend announcement from the company. The stock traded as high as C$18.34 and last traded at C$18.34, with a volume of 9650 shares. The stock had previously closed at C$17.93.The newly announced dividend which will be paid on Monday, June 30th. Investors of record on Monday, June 30th will be given a dividend of $0.05 per share. This is a boost from Magellan Aerospace's previous quarterly dividend of $0.03. This represents a $0.20 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Monday, June 16th. Magellan Aerospace's dividend payout ratio (DPR) is presently 28.61%.
Analyst Ratings Changes
Separately, TD Securities upped 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.
Check Out Our Latest Stock Analysis on MAL
Magellan Aerospace Trading Up 2.6%
The business has a fifty day moving average price of C$14.92 and a two-hundred day moving average price of C$12.00. The company has a current ratio of 2.58, a quick ratio of 1.55 and a debt-to-equity ratio of 11.81. The firm has a market capitalization of C$1.02 billion, a PE ratio of 52.65, a PEG ratio of -21.36 and a beta of 1.11.
About Magellan Aerospace
(
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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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