Algoma Central (TSE:ALC) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Algoma Central Co. (TSE:ALC)’s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$21.30 and traded as high as C$22.58. Algoma Central shares last traded at C$21.43, with a volume of 5,158 shares traded.

Algoma Central Price Performance

The company has a quick ratio of 2.06, a current ratio of 0.71 and a debt-to-equity ratio of 53.20. The stock has a market cap of C$869.37 million, a P/E ratio of 6.07 and a beta of 0.92. The business’s 50-day simple moving average is C$21.30 and its two-hundred day simple moving average is C$19.37.

Algoma Central (TSE:ALC) last issued its earnings results on Thursday, March 5th. The company reported C$2.32 earnings per share for the quarter. Algoma Central had a net margin of 18.79% and a return on equity of 15.49%. Sell-side analysts expect that Algoma Central Co. will post 1.898977 EPS for the current year.

Algoma Central Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Monday, March 2nd were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.9%. This is an increase from Algoma Central’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, February 13th. Algoma Central’s dividend payout ratio (DPR) is 22.66%.

About Algoma Central

Algoma Central Corp owns and operates the fleet of dry and liquid bulk carriers operating on the Great Lakes, St. Lawrence Waterway. The company’s Canadian flag fleet consists of self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers. The company operates its business through six segments that are Domestic Dry-Bulk, Product Tankers, Ocean SelfUnloaders, Corporate, Investment Properties, and Global Short Sea Shipping. The company earns revenues from marine operations through contracts of affreightment, time charters, and pool revenue.