Magellan Aerospace (TSE:MAL) Reaches New 1-Year High – Here’s What Happened

Shares of Magellan Aerospace Co. (TSE:MAL) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$12.75 and last traded at C$12.40, with a volume of 40947 shares trading hands. The stock had previously closed at C$12.24.

Wall Street Analyst Weigh In

Separately, TD Securities increased their target price on Magellan Aerospace from C$18.00 to C$19.00 and gave the company a “buy” rating in a research note on Monday, March 17th.

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 company has a market capitalization of C$710.92 million, a P/E ratio of 36.77, a P/E/G ratio of -21.36 and a beta of 1.11. The firm has a fifty day moving average of C$10.21 and a 200 day moving average of C$10.17.

Magellan Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.10 annualized dividend and a dividend yield of 0.78%. Magellan Aerospace’s payout ratio is 28.61%.

About Magellan Aerospace

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.