Macquarie Infrastructure Corp (MIC) Director Sells $142,116.57 in Stock
Macquarie Infrastructure Corp (NYSE:MIC) Director Norman H. Brown, Jr. sold 2,151 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $66.07, for a total value of $142,116.57. Following the transaction, the director now directly owns 46,925 shares in the company, valued at $3,100,334.75. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Macquarie Infrastructure Corp (MIC) traded down $0.51 during midday trading on Thursday, hitting $65.60. The company had a trading volume of 578,000 shares, compared to its average volume of 599,738. The stock has a market cap of $5,590.53, a PE ratio of 31.04 and a beta of 0.86. The company has a current ratio of 1.07, a quick ratio of 0.93 and a debt-to-equity ratio of 1.11. Macquarie Infrastructure Corp has a 52 week low of $63.08 and a 52 week high of $83.66.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 8.66%. This is a boost from Macquarie Infrastructure’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend was Friday, November 10th. Macquarie Infrastructure’s dividend payout ratio (DPR) is currently 266.67%.
A number of brokerages recently weighed in on MIC. Zacks Investment Research cut Macquarie Infrastructure from a “buy” rating to a “hold” rating in a report on Saturday, November 18th. SunTrust Banks decreased their price objective on Macquarie Infrastructure to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 15th. Finally, BidaskClub cut Macquarie Infrastructure from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $83.75.
About Macquarie Infrastructure
Macquarie Infrastructure Corporation owns and operates a group of businesses that provide services, such as bulk liquid terminalling and handling services. The Company operates through four segments: International-Matex Tank Terminals (IMTT), Atlantic Aviation, Contracted Power (CP) and MIC Hawaii. Its group of businesses also provides services, such as aircraft fueling, CP generation and utility gas services.
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