Magellan Aerospace (TSE:MAL) Hits New 12-Month High Following Dividend Announcement

Magellan Aerospace Co. (TSE:MAL)’s stock price reached a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as C$11.05 and last traded at C$11.05, with a volume of 13400 shares. The stock had previously closed at C$10.88.

The newly announced dividend which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be paid a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.10 annualized dividend and a yield of 0.90%. Magellan Aerospace’s dividend payout ratio is currently 28.61%.

Analyst Upgrades and Downgrades

Separately, TD Securities raised their target price on Magellan Aerospace from C$18.00 to C$19.00 and gave the stock a “buy” rating in a research note on Monday.

Magellan Aerospace Trading Up 2.3 %

The firm has a 50 day simple moving average of C$9.97 and a 200 day simple moving average of C$10.05. 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 firm has a market cap of C$616.87 million, a P/E ratio of 31.90, a P/E/G ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Company Profile

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.