Magellan Aerospace (TSE:MAL) Stock Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Magellan Aerospace stock has crossed above its 200-day moving average, trading at C$16.93, which contrasts with its average of C$15.60.
• The company announced a quarterly dividend of $0.05 per share, which equates to an annualized yield of 1.2% and a payout ratio of 18.94%.
• Magellan has a market capitalization of C$967.36 million and notable financial ratios including a debt-to-equity ratio of 11.81.

Magellan Aerospace Co. (TSE:MAL - ) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$15.60 and traded as high as C$17.18. Magellan Aerospace shares last traded at C$16.93, with a volume of 43,332 shares traded.

Magellan Aerospace Price Performance

The company has a debt-to-equity ratio of 11.81, a current ratio of 2.58 and a quick ratio of 1.55. The company's 50-day simple moving average is C$16.62 and its 200-day simple moving average is C$15.60. The stock has a market capitalization of C$967.36 million, a P/E ratio of 25.65, a price-to-earnings-growth ratio of -21.36 and a beta of -0.14.

Magellan Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 16th. Magellan Aerospace's dividend payout ratio is 18.94%.

About Magellan Aerospace

Magellan Aerospace Corp supplies components to the aerospace industry. It has two major product groups: aerostructures and aeroengines. Its engines and parts may be applied to new aircraft, or as replacement parts to existing platforms. The company also provides aftermarket support by conducting specific repairs and other maintenance services.

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