Cascades Inc (TSE:CAS) Director Sells C$175,373.00 in Stock

Cascades Inc (TSE:CAS) Director Mario Plourde sold 14,900 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of C$11.77, for a total transaction of C$175,373.00. Following the sale, the director now directly owns 348,309 shares in the company, valued at approximately C$4,099,596.93.

Cascades stock traded down C$0.05 during midday trading on Thursday, reaching C$11.74. 51,757 shares of the stock were exchanged, compared to its average volume of 212,237. The company’s fifty day moving average is C$12.02 and its 200-day moving average is C$9.83. The company has a debt-to-equity ratio of 115.99, a quick ratio of 0.81 and a current ratio of 1.43. The firm has a market cap of $1.10 billion and a PE ratio of 47.15. Cascades Inc has a 52 week low of C$7.55 and a 52 week high of C$13.60.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Friday, September 6th will be issued a $0.08 dividend. This is a positive change from Cascades’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, August 20th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.73%. Cascades’s dividend payout ratio is presently 64.26%.

A number of research firms recently weighed in on CAS. Raymond James upped their target price on shares of Cascades from C$14.00 to C$15.00 in a report on Monday, August 12th. National Bank Financial upped their target price on shares of Cascades from C$13.00 to C$14.50 and gave the stock an “outperform” rating in a report on Monday, August 12th. CIBC upped their target price on shares of Cascades from C$10.00 to C$11.00 in a report on Monday, May 13th. Royal Bank of Canada upped their target price on shares of Cascades from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, TD Securities lowered shares of Cascades from a “buy” rating to a “hold” rating and set a C$13.50 target price on the stock. in a report on Tuesday, July 16th.

About Cascades

Cascades Inc produces, converts, and markets packaging and tissue products in Canada, the United States, and internationally. The company operates through four segments: Containerboard, Boxboard Europe, Specialty Products, and Tissue Papers. It offers containerboards, and coated recycled and virgin boxboards, as well as converts corrugated products.

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