Algoma Steel Group Inc. Plans Quarterly Dividend of $0.05 (TSE:ASTL)

Algoma Steel Group Inc. (TSE:ASTL) announced a quarterly dividend on Wednesday, November 27th,TickerTech Dividends reports. Shareholders of record on Friday, December 27th will be given a dividend of 0.05 per share on Friday, December 27th. This represents a $0.20 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, November 27th.

Algoma Steel Group Trading Down 1.3 %

TSE:ASTL opened at C$15.71 on Monday. The company has a debt-to-equity ratio of 40.70, a quick ratio of 1.51 and a current ratio of 4.19. Algoma Steel Group has a 1 year low of C$9.16 and a 1 year high of C$16.83. The stock has a market cap of C$1.64 billion, a P/E ratio of -71.41 and a beta of 1.50. The stock has a 50-day simple moving average of C$14.33 and a 200-day simple moving average of C$12.46.

Insiders Place Their Bets

In other news, Director Michael Allan Mcquade sold 36,260 shares of the company’s stock in a transaction 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. Also, Director David Daniel Sgro sold 6,845 shares of Algoma Steel Group stock in a transaction that occurred 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. 7.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on ASTL shares. Stifel Nicolaus upped their price target on shares of Algoma Steel Group from C$20.00 to C$22.00 in a research report on Friday. BMO Capital Markets raised their target price on shares of Algoma Steel Group from C$13.00 to C$15.00 in a research note on Thursday, August 15th.

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.