Magellan Aerospace (TSE:MAL) Share Price Passes Above 200 Day Moving Average – What’s Next?
by Tristan Rich · The Markets DailyMagellan Aerospace Co. (TSE:MAL – Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$18.38 and traded as high as C$25.34. Magellan Aerospace shares last traded at C$24.73, with a volume of 42,877 shares traded.
Magellan Aerospace Stock Down 0.5%
The firm has a 50-day simple moving average of C$21.36 and a 200 day simple moving average of C$18.44. The stock has a market capitalization of C$1.40 billion, a P/E ratio of 31.14, a P/E/G ratio of -21.36 and a beta of 0.64. The company has a debt-to-equity ratio of 11.35, a current ratio of 2.66 and a quick ratio of 1.55.
Magellan Aerospace Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, December 17th. Magellan Aerospace’s dividend payout ratio is 18.99%.
About Magellan Aerospace
Magellan Aerospace Corp supplies components to the aerospace industry. It has two major product groups: aerostructures and aeroengines. Its engines and parts may be applied to new aircraft, or as replacement parts to existing platforms. The company also provides aftermarket support by conducting specific repairs and other maintenance services. It serves both commercial (approximately three-fourths of total sales) and defense markets. Additionally, parts and equipment may be provided for power generation projects, but sales do not constitute a material amount.