Mullen Group (TSE:MTL) Sets New 52-Week Low – Here’s Why

Mullen Group Ltd. (TSE:MTL)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as C$12.45 and last traded at C$12.45, with a volume of 8319 shares changing hands. The stock had previously closed at C$12.50.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MTL shares. Raymond James decreased their price objective on shares of Mullen Group from C$18.50 to C$17.50 in a report on Friday, February 14th. Cormark decreased their price target on Mullen Group from C$20.75 to C$19.75 in a research note on Tuesday, December 10th. Scotiabank dropped their price objective on Mullen Group from C$20.00 to C$19.00 in a research report on Thursday, January 30th. Finally, National Bankshares boosted their target price on Mullen Group from C$18.00 to C$19.00 in a research report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Mullen Group presently has an average rating of “Moderate Buy” and a consensus price target of C$18.84.

Mullen Group Stock Performance

The company has a market cap of C$1.11 billion, a P/E ratio of 9.04, a P/E/G ratio of 1.81 and a beta of 1.82. The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 120.69. The business has a fifty day simple moving average of C$13.61 and a two-hundred day simple moving average of C$14.40.

Mullen Group Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 17th were issued a $0.07 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.74%. The ex-dividend date of this dividend was Friday, February 28th. Mullen Group’s payout ratio is 60.92%.

Insider Activity at Mullen Group

In related news, Senior Officer Joanna Kathryn Scott bought 2,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were bought at an average cost of C$13.23 per share, for a total transaction of C$26,460.00. Over the last ninety days, insiders acquired 2,832 shares of company stock worth $37,153. 6.32% of the stock is owned by company insiders.

Mullen Group Company Profile

Mullen Group is one of North America’s largest logistics providers with a network of independently operated businesses provide a wide range of service offerings including less-than-truckload, truckload, warehousing, logistics, transload, oversized, third-party logistics & specialized hauling transportation.