Algoma Steel Group (TSE:ASTL) Stock Price Up 0.4% – What’s Next?

Algoma Steel Group Inc. (TSE:ASTL) shares shot up 0.4% during trading on Friday . The company traded as high as C$13.89 and last traded at C$13.76. 35,637 shares were traded during mid-day trading, a decline of 38% from the average session volume of 57,211 shares. The stock had previously closed at C$13.70.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. BMO Capital Markets upped their price objective on Algoma Steel Group from C$13.00 to C$15.00 in a report on Thursday, August 15th. Stifel Nicolaus upped their price target on shares of Algoma Steel Group from C$16.00 to C$19.00 in a report on Thursday, August 15th. Finally, Cormark raised their price objective on shares of Algoma Steel Group from C$14.50 to C$18.75 in a research report on Monday, July 22nd.

Algoma Steel Group Price Performance

The company has a current ratio of 4.19, a quick ratio of 1.51 and a debt-to-equity ratio of 40.70. The stock has a 50-day simple moving average of C$13.46 and a 200 day simple moving average of C$11.66. The stock has a market capitalization of C$1.43 billion, a price-to-earnings ratio of -62.55 and a beta of 1.51.

Algoma Steel Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 27th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Friday, August 23rd. Algoma Steel Group’s payout ratio is presently -122.73%.

Insider Buying and Selling at Algoma Steel Group

In other Algoma Steel Group news, Director David Daniel Sgro sold 6,845 shares of Algoma Steel Group stock in a transaction on Thursday, September 19th. The shares were sold at an average price of C$10.06, for a total transaction of C$68,842.90. In other news, Director David Daniel Sgro sold 6,845 shares of Algoma Steel Group stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of C$10.06, for a total transaction of C$68,842.90. Also, Director Michael Allan Mcquade sold 36,260 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of C$13.80, for a total value of C$500,388.00. Company insiders own 7.57% of the company’s stock.

Algoma Steel Group Company Profile

Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.