Magellan Aerospace (TSE:MAL) Reaches New 52-Week High - Should You Buy?

Magellan Aerospace Co. (TSE:MAL - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The company traded as high as C$17.95 and last traded at C$17.95, with a volume of 18528 shares trading hands. The stock had previously closed at C$17.41.

Analysts Set New Price Targets

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

Magellan Aerospace Stock Up 0.7%

The company has a debt-to-equity ratio of 11.81, a quick ratio of 1.55 and a current ratio of 2.58. The stock has a market capitalization of C$997.50 million, a price-to-earnings ratio of 51.59, a P/E/G ratio of -21.36 and a beta of 1.11. The firm's fifty day simple moving average is C$14.66 and its 200 day simple moving average is C$11.88.

Magellan Aerospace Increases Dividend

The business also recently announced 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 is an increase from Magellan Aerospace's previous quarterly dividend of $0.03. This represents a $0.20 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Monday, June 16th. Magellan Aerospace's dividend payout ratio (DPR) is 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.