Magellan Aerospace (TSE:MAL) Shares Pass Above 200-Day Moving Average – Here’s Why

Magellan Aerospace Co. (TSE:MAL)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$17.97 and traded as high as C$21.92. Magellan Aerospace shares last traded at C$21.08, with a volume of 27,567 shares traded.

Magellan Aerospace Stock Performance

The company has a market capitalization of C$1.20 billion, a P/E ratio of 26.68, a price-to-earnings-growth ratio of -21.36 and a beta of 0.50. The business has a 50 day moving average of C$20.35 and a 200 day moving average of C$17.97. The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 11.81.

Magellan Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.9%. The ex-dividend date was Wednesday, December 17th. Magellan Aerospace’s payout ratio is currently 18.99%.

About Magellan Aerospace

Magellan Aerospace Corp supplies components to the aerospace industry. It has two major product groups: aerostructures and aeroengines. Its engines and parts may be applied to new aircraft, or as replacement parts to existing platforms. The company also provides aftermarket support by conducting specific repairs and other maintenance services. It serves both commercial (approximately three-fourths of total sales) and defense markets. Additionally, parts and equipment may be provided for power generation projects, but sales do not constitute a material amount.