Insider Selling: Cascades Inc. (TSE:CAS) Senior Officer Sells 3,000 Shares of Stock

Cascades Inc. (TSE:CAS) Senior Officer Luc Langevin sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of C$11.30, for a total value of C$33,900.00.

Cascades Price Performance

Shares of CAS traded down C$0.07 during mid-day trading on Tuesday, hitting C$11.18. The company’s stock had a trading volume of 82,433 shares, compared to its average volume of 221,784. The firm has a 50-day moving average price of C$10.18 and a 200 day moving average price of C$9.67. The company has a debt-to-equity ratio of 119.55, a current ratio of 1.23 and a quick ratio of 0.86. Cascades Inc. has a fifty-two week low of C$8.83 and a fifty-two week high of C$15.00. The stock has a market capitalization of C$1.13 billion, a price-to-earnings ratio of -26.79, a PEG ratio of 0.56 and a beta of 0.15.

Cascades Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date is Thursday, November 21st. Cascades’s payout ratio is -114.29%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. TD Securities upped their target price on shares of Cascades from C$12.00 to C$14.00 and gave the company a “buy” rating in a research report on Friday. Scotiabank decreased their price target on Cascades from C$12.00 to C$11.00 and set a “sector perform” rating for the company in a report on Monday, August 12th. Royal Bank of Canada increased their target price on shares of Cascades from C$11.00 to C$12.00 in a research report on Friday. Finally, CIBC decreased their price objective on Cascades from C$11.00 to C$10.50 and set a “neutral” rating for the company in a report on Monday, August 12th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Cascades presently has an average rating of “Hold” and a consensus price target of C$11.92.

About Cascades

Cascades Inc produces, converts, and markets packaging and tissue products in Canada and the United States. The company operates through three segments: Containerboard, Specialty Products, and Tissue Papers. It offers various packaging solutions and tissue products comprised of recycled fibers; tissue papers, comprising parent rolls of virgin and recycled fibres; specialty products, including uncoated recycled boxboards; and containerboards.