Magellan Aerospace (TSE:MAL) Sets New 12-Month High - Time to Buy?

Shares of Magellan Aerospace Co. (TSE:MAL - Get Free Report) reached 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 changing hands. The stock had previously closed at C$15.49.

Wall Street Analyst Weigh In

Separately, TD Securities boosted their price objective on Magellan Aerospace from C$19.00 to C$20.00 and gave the stock a "buy" rating in a report on Tuesday.

Magellan Aerospace Stock Down 2.4%

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 company has a 50-day simple moving average of C$12.88 and a two-hundred day simple moving average of C$11.11. The stock has a market cap of C$850.34 million, a P/E ratio of 43.98, a P/E/G ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, March 19th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.65%. Magellan Aerospace's dividend payout ratio is presently 28.61%.

Magellan Aerospace Company Profile

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.