Algoma Central (TSE:ALC) Sets New 12-Month High – Here’s What Happened

Algoma Central Co. (TSE:ALC) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$15.60 and last traded at C$15.60, with a volume of 3017 shares trading hands. The stock had previously closed at C$15.57.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets cut their price objective on Algoma Central from C$18.00 to C$15.00 in a research note on Monday, March 17th.

Algoma Central Price Performance

The company has a current ratio of 0.76, a quick ratio of 2.06 and a debt-to-equity ratio of 50.70. The firm has a market capitalization of C$645.24 million, a price-to-earnings ratio of 8.75 and a beta of 0.72. The business has a 50-day moving average price of C$15.08 and a two-hundred day moving average price of C$14.95.

Algoma Central Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, June 2nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.08%. The ex-dividend date of this dividend is Friday, May 16th. Algoma Central’s dividend payout ratio is currently 42.19%.

Insider Activity at Algoma Central

In other news, Director Richard Brydone Carty sold 2,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of C$15.10, for a total transaction of C$30,200.00. 54.61% of the stock is owned by insiders.

Algoma Central Company Profile

Algoma Central Corporation owns and operates a fleet of dry and liquid bulk carriers activities in Canada. The company operates through Domestic Dry-Bulk, Product Tankers, Ocean Self-Unloaders, Global Short Sea Shipping, and Investment Properties segments. The company operates dry-bulk carriers for industrial sectors, including producers in iron and steel, aggregate, cement and building materials, and salt producers as well as, agricultural product distributors.