CIBC Forecasts Strong Price Appreciation for Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock

Chemtrade Logistics Income Fund (TSE:CHE.UN) had its target price lifted by CIBC from C$10.50 to C$12.50 in a research report sent to investors on Thursday morning,BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

Chemtrade Logistics Income Fund Stock Performance

Shares of Chemtrade Logistics Income Fund stock opened at C$11.08 on Thursday. Chemtrade Logistics Income Fund has a fifty-two week low of C$8.50 and a fifty-two week high of C$12.05. The company has a debt-to-equity ratio of 128.02, a current ratio of 0.40 and a quick ratio of 0.48. The firm has a market capitalization of C$1.29 billion, a P/E ratio of 10.07 and a beta of 1.50. The company’s 50 day moving average price is C$9.72 and its two-hundred day moving average price is C$10.33.

Chemtrade Logistics Income Fund Increases Dividend

The business also recently announced a monthly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were given a $0.0575 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.69 dividend on an annualized basis and a yield of 6.23%. This is a positive change from Chemtrade Logistics Income Fund’s previous monthly dividend of $0.06. Chemtrade Logistics Income Fund’s dividend payout ratio (DPR) is currently 60.00%.

Insider Buying and Selling at Chemtrade Logistics Income Fund

In other Chemtrade Logistics Income Fund news, Senior Officer Scott William Rook purchased 12,428 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were bought at an average price of C$9.66 per share, for a total transaction of C$120,054.48. Also, Senior Officer Timothy Neil Montgomery purchased 60,921 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were acquired at an average price of C$9.14 per share, for a total transaction of C$556,817.94. Company insiders own 0.19% of the company’s stock.

About Chemtrade Logistics Income Fund

Chemtrade Logistics Income Fund provides industrial chemicals and services in Canada, the United States, and South America. It operates through Sulphur Products & Performance Chemicals (SPPC), Water Solutions & Specialty Chemicals (WSSC), and Electrochemicals (EC) segments. The SPPC segment removes and/or produces merchant, regenerated, and ultra pure sulphuric acid, sodium hydrosulphite, elemental sulphur, liquid sulphur dioxide, hydrogen sulphide, sodium bisulphite, and sulphides.