Magellan Aerospace (TSE:MAL) Sets New 1-Year High - Here's What Happened

Magellan Aerospace Co. (TSE:MAL - Get Free Report) hit a new 52-week high on Monday . The company traded as high as C$15.63 and last traded at C$15.53, with a volume of 12110 shares. The stock had previously closed at C$15.49.

Wall Street Analysts Forecast Growth

Separately, TD Securities lifted their price target on shares of Magellan Aerospace from C$18.00 to C$19.00 and gave the company a "buy" rating in a research note on Monday, March 17th.

Magellan Aerospace Stock Down 3.0%

The company has a market capitalization of C$830.98 million, a price-to-earnings ratio of 42.98, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11. The firm's 50 day moving average price is C$12.31 and its two-hundred day moving average price is C$10.93. The company has a current ratio of 2.58, a quick ratio of 1.55 and a debt-to-equity ratio of 11.81.

Magellan Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Wednesday, March 19th. Magellan Aerospace's dividend 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.

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