Chemtrade Logistics Income Fund (TSE:CHE.UN) Trading Down 5.5% – Here’s Why

Chemtrade Logistics Income Fund (TSE:CHE.UN) shares dropped 5.5% during mid-day trading on Tuesday . The stock traded as low as C$16.85 and last traded at C$17.39. Approximately 224,064 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 383,275 shares. The stock had previously closed at C$18.40.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CHE.UN shares. BMO Capital Markets raised shares of Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and set a C$18.50 price objective on the stock in a research report on Thursday, April 23rd. Raymond James Financial raised Chemtrade Logistics Income Fund from a “market perform” rating to an “outperform” rating and upped their price target for the stock from C$15.00 to C$21.00 in a research report on Tuesday, April 28th. Finally, National Bank Financial boosted their target price on Chemtrade Logistics Income Fund from C$18.00 to C$23.50 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$19.00.

Chemtrade Logistics Income Fund Stock Down 9.2%

The firm has a market capitalization of C$1.87 billion, a price-to-earnings ratio of 13.69 and a beta of 0.65. The company has a quick ratio of 0.48, a current ratio of 0.40 and a debt-to-equity ratio of 128.02. The company’s 50 day moving average price is C$15.96 and its 200 day moving average price is C$15.18.

Chemtrade Logistics Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 29th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. Chemtrade Logistics Income Fund’s payout ratio is 56.56%.

About Chemtrade Logistics Income Fund

Chemtrade Logistics Income Fund provides industrial chemicals and services to customers in North America and around the world. The company organized into four main operating segments: Sulphur Products and Performance Chemicals (SPPC), Water Solutions and Specialty Chemicals (WSSC), Electrochemicals, and Corporate. It generates maximum revenue from Electrochemicals segment. Chemtrade operates in Canada, the United States, and South America of which maximum revenue comes from the United States. SPPC markets, remove and produces merchant, regenerated and ultra-pure sulphuric acid, liquid sulphur dioxide, sodium hydrosulfite and provides other processing services.