Chemtrade Logistics Income Fund (TSE:CHE.UN) Given New C$10.50 Price Target at CIBC

Chemtrade Logistics Income Fund (TSE:CHE.UN) had its target price reduced by CIBC from C$13.00 to C$10.50 in a research note issued to investors on Tuesday morning,BayStreet.CA reports. They currently have a neutral rating on the stock.

Chemtrade Logistics Income Fund Stock Performance

Shares of TSE CHE.UN opened at C$9.50 on Tuesday. 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 debt-to-equity ratio of 128.02, a quick ratio of 0.48 and a current ratio of 0.40. The company’s fifty day moving average price is C$9.54 and its 200 day moving average price 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 Increases Dividend

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

Insiders Place Their Bets

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

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.