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 following a dividend announcement from the company. The company traded as high as C$11.05 and last traded at C$11.05, with a volume of 13400 shares. The stock had previously closed at C$10.88.

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

Analyst Upgrades and Downgrades

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

Magellan Aerospace Price Performance

The company has a current ratio of 2.58, a quick ratio of 1.55 and a debt-to-equity ratio of 11.81. The firm has a market capitalization of C$612.44 million, a PE ratio of 31.67, a P/E/G ratio of -21.36 and a beta of 1.11. The company has a fifty day moving average price of C$9.96 and a two-hundred day moving average price of C$10.04.

Magellan Aerospace Company Profile

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.