Algoma Steel Group Inc. (TSE:ASTL) Director Sells C$500,388.00 in Stock

Algoma Steel Group Inc. (TSE:ASTL) Director Michael Allan Mcquade sold 36,260 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of C$13.80, for a total transaction of C$500,388.00.

Algoma Steel Group Stock Down 2.1 %

TSE:ASTL opened at C$13.26 on Friday. The company has a current ratio of 4.19, a quick ratio of 1.51 and a debt-to-equity ratio of 40.70. The stock has a 50 day moving average of C$12.93 and a 200-day moving average of C$11.36. The firm has a market capitalization of C$1.38 billion, a PE ratio of -60.27 and a beta of 1.51. Algoma Steel Group Inc. has a 52 week low of C$8.71 and a 52 week high of C$14.48.

Algoma Steel Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 27th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.51%. The ex-dividend date is Friday, August 23rd. Algoma Steel Group’s dividend payout ratio is presently -122.73%.

Analysts Set New Price Targets

Several analysts recently weighed in on ASTL shares. Stifel Nicolaus boosted their price objective on Algoma Steel Group from C$16.00 to C$19.00 in a report on Thursday, August 15th. BMO Capital Markets upped their price target on Algoma Steel Group from C$13.00 to C$15.00 in a research report on Thursday, August 15th. Finally, Cormark raised their price objective on Algoma Steel Group from C$14.50 to C$18.75 in a research note on Monday, July 22nd.

About Algoma Steel Group

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.