Magellan Aerospace Co. (TSE:MAL – Get Free Report) shares reached a new 52-week high during mid-day trading on Friday after TD Securities raised their price target on the stock from C$19.00 to C$20.00. TD Securities currently has a buy rating on the stock. Magellan Aerospace traded as high as C$16.50 and last traded at C$16.46, with a volume of 9394 shares changing hands. The stock had previously closed at C$16.30.
Magellan Aerospace Price Performance
The stock’s 50-day moving average price is C$13.44 and its 200 day moving average price is C$11.30. The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 11.81. The firm has a market capitalization of C$927.24 million, a price-to-earnings ratio of 47.95, a PEG ratio of -21.36 and a beta of 1.11.
Magellan Aerospace Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were paid a dividend of $0.025 per share. The ex-dividend date was Wednesday, March 19th. This represents a $0.10 annualized dividend and a yield of 0.60%. Magellan Aerospace’s dividend payout ratio is presently 28.61%.
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.
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