Algoma Central (TSE:ALC) Shares Cross Above Fifty Day Moving Average – Time to Sell?

Algoma Central Co. (TSE:ALC) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$15.01 and traded as high as C$15.48. Algoma Central shares last traded at C$15.36, with a volume of 8,279 shares changing hands.

Analysts Set New Price Targets

Separately, BMO Capital Markets lowered their price objective on Algoma Central from C$18.00 to C$15.00 in a research note on Monday, March 17th.

Algoma Central Stock Down 0.1 %

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 firm has a 50 day simple moving average of C$15.01 and a 200-day simple moving average of C$14.88. The stock has a market capitalization of C$628.86 million, a price-to-earnings ratio of 8.53 and a beta of 0.72.

Algoma Central Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, March 3rd were issued a dividend of $0.20 per share. This is an increase from Algoma Central’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend was Friday, February 14th. Algoma Central’s dividend payout ratio (DPR) is currently 42.19%.

Insider Buying and Selling at Algoma Central

In related 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 transaction of C$30,200.00. Company 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.