Algoma Steel Group (TSE:ASTL) Trading Down 0.7%

Algoma Steel Group Inc. (TSE:ASTLGet Rating)’s share price traded down 0.7% during mid-day trading on Monday . The company traded as low as C$10.84 and last traded at C$10.97. 138,811 shares were traded during mid-day trading, a decline of 26% from the average session volume of 187,109 shares. The stock had previously closed at C$11.05.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Cormark dropped their target price on Algoma Steel Group to C$19.00 in a research report on Friday, August 5th. Stifel Nicolaus dropped their target price on Algoma Steel Group from C$16.00 to C$14.50 in a research report on Saturday, August 6th.

Algoma Steel Group Price Performance

The stock has a market cap of C$1.16 billion and a price-to-earnings ratio of 1.20. The company has a 50-day simple moving average of C$11.96 and a two-hundred day simple moving average of C$12.35. The company has a debt-to-equity ratio of 7.26, a quick ratio of 1.37 and a current ratio of 2.09.

Algoma Steel Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.20 annualized dividend and a dividend yield of 1.82%. Algoma Steel Group’s dividend payout ratio is currently 1.40%.

Algoma Steel Group Company Profile

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Algoma Steel Group Inc produces and sells steel products primarily in North America. It 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.

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