ZCL Composites Inc. (ZCL) Price Target Lowered to C$14.50 at Raymond James Financial, Inc.

ZCL Composites Inc. (TSE:ZCL) had its price objective trimmed by Raymond James Financial, Inc. from C$16.00 to C$14.50 in a research report released on Tuesday, August 8th. The firm currently has an outperform rating on the stock.

Shares of ZCL Composites (TSE:ZCL) traded down 1.15% during midday trading on Tuesday, hitting $12.86. The stock had a trading volume of 22,467 shares. The firm’s 50-day moving average price is $13.17 and its 200-day moving average price is $13.18. ZCL Composites has a one year low of $9.37 and a one year high of $15.47. The firm has a market capitalization of $399.26 million and a PE ratio of 21.12.

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The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.73%. This is a positive change from ZCL Composites’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, September 28th.

In other news, Director Ronald Marvin Bachmeier bought 2,329 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were bought at an average price of C$12.72 per share, with a total value of C$29,624.88. Also, Director Leonard A. Cornez sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of C$13.06, for a total value of C$195,900.00.

ZCL Composites Company Profile

ZCL Composites Inc designs, manufactures, and supplies fiberglass reinforced plastic (FRP) underground storage tanks in Canada, the United States, and internationally. The company operates through three segments: Petroleum Products, Water Products, and Industrial Products. The Petroleum Products segment provides underground fuel storage tanks for the downstream retail and commercial markets; tanks for midstream pipelines; tanks for the oil and gas exploration companies; Phoenix System that allows in-situ upgrades of steel or fiberglass tanks; and Parabeam, a three-dimensional glass fabric.

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