Algoma Central (TSE:ALC - Free Report) had its price objective lowered by BMO Capital Markets from C$18.00 to C$15.00 in a research note released on Monday,BayStreet.CA reports.
Algoma Central Price Performance
Shares of TSE ALC traded down C$0.12 during trading hours on Monday, hitting C$15.24. 900 shares of the stock were exchanged, compared to its average volume of 7,446. The company has a debt-to-equity ratio of 50.70, a quick ratio of 2.06 and a current ratio of 0.76. The company has a market cap of C$623.95 million, a PE ratio of 8.46 and a beta of 0.72. The company's fifty day simple moving average is C$14.90 and its two-hundred day simple moving average is C$14.83. Algoma Central has a 1-year low of C$14.03 and a 1-year high of C$15.60.
Algoma Central Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, March 3rd were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.80 dividend on an annualized basis and a yield of 5.25%. This is a positive change from Algoma Central's previous quarterly dividend of $0.19. Algoma Central's dividend payout ratio (DPR) is currently 42.19%.
Insider Buying and Selling at Algoma Central
In other news, Director Richard Brydone Carty sold 2,000 shares of Algoma Central stock in a transaction on Friday, February 28th. The shares were sold at an average price of C$15.10, for a total transaction of C$30,200.00. Company insiders own 54.61% of the company's stock.
Algoma Central Company Profile
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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.
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