Cascades Inc. (TSE:CAS) Senior Officer Luc Langevin Sells 9,000 Shares

Cascades Inc. (TSE:CAS) Senior Officer Luc Langevin sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of C$9.82, for a total value of C$88,380.00.

Cascades Stock Down 1.2 %

TSE CAS opened at C$9.72 on Friday. Cascades Inc. has a 1-year low of C$8.83 and a 1-year high of C$13.42. The company has a market capitalization of C$983.19 million, a price-to-earnings ratio of -13.11, a PEG ratio of 0.56 and a beta of 0.15. The stock’s 50 day moving average is C$11.59 and its two-hundred day moving average is C$11.26. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 121.37.

Cascades Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 20th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $0.48 annualized dividend and a dividend yield of 4.94%. Cascades’s dividend payout ratio is presently -64.73%.

Wall Street Analyst Weigh In

CAS has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price target on shares of Cascades from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a research report on Friday, December 20th. Scotiabank upgraded Cascades from a “hold” rating to a “strong-buy” rating and lifted their price objective for the stock from C$12.00 to C$15.50 in a research note on Monday, January 27th. Finally, CIBC raised their target price on Cascades from C$12.00 to C$13.00 in a report on Wednesday, January 15th.

Cascades Company Profile

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.