Separately, BMO Capital Markets reduced their price target on shares of Algoma Steel Group from C$16.00 to C$14.00 in a research report on Wednesday, September 28th.
Algoma Steel Group Price Performance
Shares of ASTL stock opened at $6.51 on Monday. The firm has a market cap of $676.10 million, a P/E ratio of 1.95 and a beta of 1.41. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.57 and a quick ratio of 1.79. Algoma Steel Group has a 1-year low of $6.21 and a 1-year high of $12.50. The firm has a fifty day moving average of $7.04 and a two-hundred day moving average of $8.44.
Algoma Steel Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, November 30th will be given a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.07%. Algoma Steel Group’s payout ratio is currently 6.01%.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. UBS Group AG bought a new position in shares of Algoma Steel Group in the 3rd quarter worth about $34,000. Ulland Investment Advisors LLC bought a new stake in Algoma Steel Group in the 2nd quarter valued at about $55,000. National Bank of Canada FI lifted its position in Algoma Steel Group by 198.6% in the 2nd quarter. National Bank of Canada FI now owns 8,958 shares of the company’s stock valued at $80,000 after purchasing an additional 5,958 shares during the last quarter. Shell Asset Management Co. bought a new stake in Algoma Steel Group in the 2nd quarter valued at about $86,000. Finally, Bluefin Capital Management LLC bought a new stake in Algoma Steel Group in the 2nd quarter valued at about $95,000. 60.70% of the stock is currently owned by institutional investors.
Algoma Steel Group Company Profile
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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