Chemtrade Logistics Income Fund (TSE:CHE.UN) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Chemtrade Logistics Income Fund (TSE:CHE.UN) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$10.32 and traded as high as C$10.96. Chemtrade Logistics Income Fund shares last traded at C$10.78, with a volume of 605,990 shares traded.

Analysts Set New Price Targets

Separately, CIBC decreased their price objective on shares of Chemtrade Logistics Income Fund from C$13.00 to C$10.50 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$12.93.

Chemtrade Logistics Income Fund Trading Up 0.7%

The company has a current ratio of 0.40, a quick ratio of 0.48 and a debt-to-equity ratio of 128.02. The firm has a market cap of C$1.26 billion, a price-to-earnings ratio of 9.80 and a beta of 1.50. The company has a fifty day moving average price of C$9.53 and a 200-day moving average price of C$10.32.

Chemtrade Logistics Income Fund Increases Dividend

The business also recently declared a monthly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were issued a $0.0575 dividend. The ex-dividend date was Friday, February 28th. This is an increase from Chemtrade Logistics Income Fund’s previous monthly dividend of $0.06. This represents a $0.69 dividend on an annualized basis and a yield of 6.40%. Chemtrade Logistics Income Fund’s payout ratio is presently 60.00%.

Insiders Place Their Bets

In other Chemtrade Logistics Income Fund news, Senior Officer Timothy Neil Montgomery purchased 60,921 shares of the stock in a transaction on Monday, April 14th. The shares were bought at an average price of C$9.14 per share, for a total transaction of C$556,817.94. Also, Senior Officer Scott William Rook acquired 12,428 shares of the company’s stock in a transaction on Monday, March 17th. The stock was acquired at an average cost of C$9.66 per share, for a total transaction of C$120,054.48. Insiders own 0.19% of the company’s stock.

About Chemtrade Logistics Income Fund

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.