Magellan Aerospace (TSE:MAL) Hits New 52-Week High After Dividend Announcement

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

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

Analyst Upgrades and Downgrades

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

Magellan Aerospace Price Performance

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 company has a 50-day simple moving average of C$9.96 and a 200-day simple moving average of C$10.04. The company has a market cap of C$612.44 million, a price-to-earnings ratio of 31.67, a PEG ratio of -21.36 and a beta of 1.11.

About Magellan Aerospace

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.