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

Mullen Group Ltd. (TSE:MTL) announced a monthly dividend on Tuesday, July 23rd, Zacks reports. Shareholders 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 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Wednesday, July 31st.

Mullen Group Price Performance

Shares of MTL opened at C$14.95 on Tuesday. The business’s 50-day moving average is C$13.14 and its two-hundred day moving average is C$13.96. The company has a market capitalization of C$1.32 billion, a P/E ratio of 10.91, a P/E/G ratio of 1.81 and a beta of 1.81. The company has a debt-to-equity ratio of 80.16, a quick ratio of 1.06 and a current ratio of 0.78. Mullen Group has a fifty-two week low of C$12.47 and a fifty-two week high of C$16.02.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. CIBC increased their price target on Mullen Group from C$15.50 to C$16.50 in a research report on Friday. TD Securities raised their target price on Mullen Group from C$21.00 to C$22.00 and gave the company a “buy” rating in a research report on Monday. Scotiabank dropped their target price on Mullen Group from C$20.00 to C$19.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Royal Bank of Canada raised their target price on Mullen Group from C$16.00 to C$17.00 in a research report on Friday. Finally, Cormark raised their target price on Mullen Group from C$18.75 to C$19.50 in a research report on Friday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$18.33.

Insider Activity at Mullen Group

In related news, Senior Officer Carson Paul Urlacher purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were purchased at an average cost of C$12.90 per share, with a total value of C$322,500.00. 6.30% of the stock is currently owned by corporate insiders.

Mullen Group Company Profile

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.