Separately, BMO Capital Markets reduced their target price on Algoma Steel Group from C$16.00 to C$14.00 in a report on Wednesday, September 28th.
Algoma Steel Group Price Performance
Algoma Steel Group stock opened at $6.68 on Monday. The company has a 50-day simple moving average of $6.91 and a 200-day simple moving average of $8.40. The firm has a market capitalization of $693.78 million, a P/E ratio of 2.01 and a beta of 1.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.79 and a current ratio of 3.57. Algoma Steel Group has a one year low of $6.21 and a one year high of $12.50.
Algoma Steel Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Wednesday, November 30th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.20 annualized dividend and a yield of 2.99%. Algoma Steel Group’s dividend payout ratio is 6.01%.
Institutional Trading of Algoma Steel Group
Several institutional investors have recently added to or reduced their stakes in ASTL. UBS Group AG acquired a new position in shares of Algoma Steel Group in the third quarter worth about $34,000. Ulland Investment Advisors LLC acquired a new position in shares of Algoma Steel Group during the second quarter worth about $55,000. National Bank of Canada FI grew its position in Algoma Steel Group by 198.6% during the second quarter. National Bank of Canada FI now owns 8,958 shares of the company’s stock worth $80,000 after buying an additional 5,958 shares during the period. Shell Asset Management Co. purchased a new position in shares of Algoma Steel Group during the second quarter valued at approximately $86,000. Finally, Bluefin Capital Management LLC acquired a new position in Algoma Steel Group during the second quarter worth approximately $95,000. Institutional investors own 60.70% of the company’s stock.
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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