ADENTRA (TSE:ADEN) Shares Down 0.9% – Here’s What Happened

ADENTRA Inc. (TSE:ADEN) traded down 0.9% during mid-day trading on Friday . The company traded as low as $38.82 and last traded at $39.48. 44,398 shares were traded during mid-day trading, a decline of 31% from the average session volume of 64,797 shares. The stock had previously closed at $39.84.

Wall Street Analyst Weigh In

A number of research firms have commented on ADEN. CIBC upped their price target on ADENTRA from C$52.00 to C$53.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Acumen Capital decreased their target price on ADENTRA from C$56.00 to C$54.00 in a research note on Friday, November 15th. National Bankshares lifted their target price on ADENTRA from C$57.00 to C$60.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Finally, Stifel Nicolaus reduced their price target on shares of ADENTRA from C$53.00 to C$50.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $54.33.

ADENTRA Price Performance

The firm has a market capitalization of $987.79 million, a price-to-earnings ratio of 14.84 and a beta of 1.57. The firm has a 50 day moving average price of $40.45 and a 200-day moving average price of $38.59.

ADENTRA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 25th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Tuesday, October 15th. ADENTRA’s dividend payout ratio is currently 21.05%.

Insider Activity

In related news, Senior Officer Daniel Brian Figgins sold 7,800 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $38.76, for a total transaction of $302,328.00. Company insiders own 10.73% of the company’s stock.

About ADENTRA

ADENTRA Inc engages in the wholesale distribution of architectural building products to the residential, repair and remodel, and commercial construction markets in Canada and the United States. It offers doors, decorative surfaces, moldings, stair parts, hardwood lumber, hardwood plywood, composite panels, and other building products to industrial manufacturers, home builder distribution yards, and home centers.