Mullen Group Ltd. (TSE:MTL) Declares $0.06 Monthly Dividend

Mullen Group Ltd. (TSE:MTL) announced a monthly dividend on Tuesday, July 23rd, Zacks reports. Stockholders of record on Wednesday, July 31st will be paid a dividend of 0.06 per share on Thursday, August 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend is Wednesday, July 31st.

Mullen Group Price Performance

Shares of TSE:MTL opened at C$14.95 on Tuesday. The company has a 50-day simple moving average of C$13.14 and a 200-day simple moving average of C$13.96. Mullen Group has a one year low of C$12.47 and a one year high of C$16.02. The company has a debt-to-equity ratio of 80.16, a quick ratio of 1.06 and a current ratio of 0.78. The stock has a market capitalization of C$1.32 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 1.81 and a beta of 1.81.

Insiders Place Their Bets

In related news, Senior Officer Carson Paul Urlacher bought 25,000 shares of the stock in a transaction on Thursday, May 16th. The shares were bought at an average cost of C$12.90 per share, for a total transaction of C$322,500.00. 6.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on MTL. CIBC upped their target price on shares of Mullen Group from C$15.50 to C$16.50 in a report on Friday. Cormark boosted their price target on shares of Mullen Group from C$18.75 to C$19.50 in a research note on Friday. TD Securities boosted their price target on shares of Mullen Group from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research note on Monday. Scotiabank dropped their price target on shares of Mullen Group from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Finally, National Bankshares dropped their price target on shares of Mullen Group from C$19.50 to C$18.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$18.33.

About Mullen Group

Mullen Group Ltd. provides a range of trucking and logistics services in Canada and the United States. The Less-Than-Truckload segment delivers general freight consisting of smaller shipments, packages, and parcels; and pharmaceutical and package products. The Logistics & Warehousing segment offers full truckload, specialized transportation, warehousing, and fulfillment centers that handle e-commerce transactions and transload facilities for intermodal and bulk shipments; technology solutions, including transportation, inventory, and warehouse management systems; and warehousing and distribution services.