CIBC Cuts Chemtrade Logistics Income Fund (TSE:CHE.UN) Price Target to C$10.50

Chemtrade Logistics Income Fund (TSE:CHE.UN) had its target price trimmed by CIBC from C$13.00 to C$10.50 in a research note released on Tuesday morning,BayStreet.CA reports. The brokerage currently has a neutral rating on the stock.

Chemtrade Logistics Income Fund Stock Down 0.5 %

CHE.UN opened at C$9.50 on Tuesday. The firm’s 50 day simple moving average is C$9.54 and its two-hundred day simple moving average is C$10.39. The company has a market capitalization of C$1.11 billion, a PE ratio of 8.64 and a beta of 1.50. Chemtrade Logistics Income Fund has a 1-year low of C$8.50 and a 1-year high of C$12.05. The company has a current ratio of 0.40, a quick ratio of 0.48 and a debt-to-equity ratio of 128.02.

Chemtrade Logistics Income Fund Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were given a dividend of $0.0575 per share. This represents a $0.69 annualized dividend and a dividend yield of 7.26%. This is a boost from Chemtrade Logistics Income Fund’s previous monthly dividend of $0.06. The ex-dividend date was Friday, February 28th. Chemtrade Logistics Income Fund’s dividend payout ratio is currently 60.00%.

Insider Buying and Selling

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

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.