Mullen Group (TSE:MTL) Sets New 12-Month High – Here’s What Happened

Mullen Group Ltd. (TSE:MTL) shares hit a new 52-week high on Tuesday . The stock traded as high as C$22.32 and last traded at C$22.02, with a volume of 187428 shares trading hands. The stock had previously closed at C$21.80.

Analyst Ratings Changes

Several brokerages have recently weighed in on MTL. Canadian Imperial Bank of Commerce increased their price objective on shares of Mullen Group from C$18.00 to C$20.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Scotiabank increased their price objective on shares of Mullen Group from C$19.00 to C$21.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Royal Bank Of Canada increased their price objective on shares of Mullen Group from C$19.00 to C$21.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Desjardins increased their price objective on shares of Mullen Group from C$20.00 to C$23.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, Acumen Capital increased their price objective on shares of Mullen Group from C$20.50 to C$22.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$20.67.

Mullen Group Price Performance

The stock has a market capitalization of C$2.13 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 1.81 and a beta of 1.10. The company has a quick ratio of 1.06, a current ratio of 2.07 and a debt-to-equity ratio of 91.65. The business’s 50 day simple moving average is C$19.64 and its 200-day simple moving average is C$17.40.

Mullen Group (TSE:MTL) last announced its quarterly earnings data on Thursday, April 23rd. The company reported C$0.20 earnings per share (EPS) for the quarter. The firm had revenue of C$547.70 million for the quarter. Mullen Group had a net margin of 4.32% and a return on equity of 8.72%.

Mullen Group Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were paid a dividend of $0.07 per share. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Thursday, April 30th. Mullen Group’s dividend payout ratio is presently 82.35%.

Insider Activity at Mullen Group

In other news, Director Stephen H. Lockwood sold 3,500 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of C$21.50, for a total value of C$75,250.00. Following the completion of the transaction, the director owned 7,562 shares of the company’s stock, valued at approximately C$162,583. This represents a 31.64% decrease in their ownership of the stock. Company insiders own 6.32% of the company’s stock.

Mullen Group Company Profile

Mullen Group is a public company with a long history of acquiring companies in the transportation and logistics industries. Today, we have one of the largest portfolios of logistics companies in North America, providing a wide range of transportation, warehousing and distribution services through a network of independently operated businesses. Service offerings include less-than-truckload, customs brokerage, truckload, warehousing, logistics, transload, oversized, third-party logistics and specialized hauling transportation.