Algoma Central (TSE:ALC) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Algoma Central Co. (TSE:ALC) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$14.85 and traded as high as C$14.95. Algoma Central shares last traded at C$14.85, with a volume of 13,499 shares traded.

Algoma Central Stock Up 0.5 %

The company has a market capitalization of C$611.26 million, a PE ratio of 8.29 and a beta of 0.72. The firm’s 50-day simple moving average is C$14.86 and its 200 day simple moving average is C$14.80. The company has a debt-to-equity ratio of 50.70, a quick ratio of 2.06 and a current ratio of 0.76.

Algoma Central Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, March 3rd were given a dividend of $0.20 per share. This is a positive change from Algoma Central’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend was Friday, February 14th. Algoma Central’s payout ratio is presently 42.19%.

Insider Transactions at Algoma Central

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

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.