Algoma Central (TSE:ALC) Given New C$15.00 Price Target at BMO Capital Markets

Algoma Central (TSE:ALC) had its target price lowered by BMO Capital Markets from C$18.00 to C$15.00 in a research report sent to investors on Monday morning,BayStreet.CA reports.

Algoma Central Trading Up 0.7 %

Shares of TSE:ALC opened at C$15.08 on Monday. Algoma Central has a 1 year low of C$14.03 and a 1 year high of C$15.60. The firm has a market capitalization of C$617.40 million, a price-to-earnings ratio of 8.37 and a beta of 0.72. The company has a debt-to-equity ratio of 50.70, a current ratio of 0.76 and a quick ratio of 2.06. The business’s 50 day moving average price is C$14.89 and its 200-day moving average price is C$14.82.

Algoma Central Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, March 3rd were issued 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 5.31%. This is a positive change from Algoma Central’s previous quarterly dividend of $0.19. Algoma Central’s dividend payout ratio (DPR) is presently 42.19%.

Insider Buying and Selling at Algoma Central

In other Algoma Central news, Director Richard Brydone Carty sold 2,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of C$15.10, for a total value of C$30,200.00. 54.61% of the stock is currently owned by insiders.

Algoma Central Company Profile

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.