Chemtrade Logistics Income Fund (TSE:CHE.UN) Shares Cross Above 200-Day Moving Average of $8.53

Chemtrade Logistics Income Fund (TSE:CHE.UN) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$8.53 and traded as high as C$8.92. Chemtrade Logistics Income Fund shares last traded at C$8.86, with a volume of 226,800 shares changing hands.

Wall Street Analyst Weigh In

CHE.UN has been the subject of several recent analyst reports. CIBC lowered their target price on shares of Chemtrade Logistics Income Fund from C$14.00 to C$13.50 in a research note on Thursday, February 22nd. Desjardins upped their price target on shares of Chemtrade Logistics Income Fund from C$12.00 to C$12.50 and gave the company a “buy” rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Chemtrade Logistics Income Fund has an average rating of “Moderate Buy” and an average target price of C$11.80.

Chemtrade Logistics Income Fund Stock Down 0.7 %

The company has a market cap of C$1.03 billion, a price-to-earnings ratio of 5.79 and a beta of 1.48. The company has a debt-to-equity ratio of 122.18, a quick ratio of 0.48 and a current ratio of 0.80. The business has a 50-day simple moving average of C$8.37 and a 200-day simple moving average of C$8.53.

Chemtrade Logistics Income Fund Increases Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 28th were paid a $0.055 dividend. The ex-dividend date was Wednesday, February 28th. This is a boost from Chemtrade Logistics Income Fund’s previous monthly dividend of $0.05. This represents a $0.66 dividend on an annualized basis and a yield of 7.50%. Chemtrade Logistics Income Fund’s dividend payout ratio (DPR) is currently 43.42%.

Insider Activity

In related news, Senior Officer Timothy Neil Montgomery purchased 5,942 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were bought at an average cost of C$5.93 per share, for a total transaction of C$35,236.06. Company insiders own 0.18% of the company’s stock.

Chemtrade Logistics Income Fund Company Profile

Chemtrade Logistics Income Fund provides industrial chemicals and services in Canada, the United States, and South America. It operates through Sulphur Products & Performance Chemicals (SPPC), Water Solutions & Specialty Chemicals (WSSC), and Electrochemicals (EC) segments. The SPPC segment removes and/or produces merchant, regenerated, and ultra pure sulphuric acid, sodium hydrosulphite, elemental sulphur, liquid sulphur dioxide, hydrogen sulphide, sodium bisulphite, and sulphides.