Algoma Central (TSE:ALC) Stock Passes Above 50-Day Moving Average – What’s Next?

Shares of Algoma Central Co. (TSE:ALC) passed above its fifty day moving average during trading on Thursday . The stock has a fifty 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.

Algoma Central Stock Performance

The company has a current ratio of 0.76, a quick ratio of 2.06 and a debt-to-equity ratio of 50.70. The company’s 50-day moving average is C$14.85 and its two-hundred day moving average is C$14.80. The stock has a market capitalization of C$607.98 million, a P/E ratio of 8.24 and a beta of 0.72.

Algoma Central Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, March 3rd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date was Friday, February 14th. This is a boost from Algoma Central’s previous quarterly dividend of $0.19. Algoma Central’s payout ratio is 42.19%.

Insider Buying and Selling

In related news, Director Richard Brydone Carty sold 2,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of C$15.10, for a total value 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.