Algoma Steel Group (TSE:ASTL) Hits New 1-Year High at $13.54

Algoma Steel Group Inc. (TSE:ASTL)’s share price hit a new 52-week high on Thursday . The company traded as high as C$13.54 and last traded at C$13.32, with a volume of 153161 shares traded. The stock had previously closed at C$12.16.

Analyst Upgrades and Downgrades

ASTL has been the subject of several recent analyst reports. Cormark raised their target price on Algoma Steel Group from C$14.50 to C$18.75 in a research note on Monday, July 22nd. Stifel Nicolaus lifted their price objective on shares of Algoma Steel Group from C$15.00 to C$16.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, BMO Capital Markets cut their target price on shares of Algoma Steel Group from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a research note on Monday, June 24th.

Algoma Steel Group Price Performance

The firm’s 50 day moving average price is C$10.59 and its two-hundred day moving average price is C$10.89. The company has a debt-to-equity ratio of 10.83, a current ratio of 2.88 and a quick ratio of 1.51. The stock has a market cap of C$1.36 billion, a PE ratio of 20.45 and a beta of 1.54.

Algoma Steel Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 19th were paid a $0.05 dividend. The ex-dividend date was Tuesday, July 2nd. This represents a $0.20 dividend on an annualized basis and a yield of 1.53%. Algoma Steel Group’s dividend payout ratio is 42.19%.

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.