Algoma Steel Group (TSE:ASTL) Reaches New 1-Year Low – Here’s What Happened

Algoma Steel Group Inc. (TSE:ASTL) reached a new 52-week low on Thursday . The company traded as low as C$7.53 and last traded at C$7.53, with a volume of 113528 shares changing hands. The stock had previously closed at C$8.03.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus reduced their price target on Algoma Steel Group from C$21.00 to C$15.25 and set a “buy” rating on the stock in a research report on Friday, March 14th.

Algoma Steel Group Stock Down 10.5 %

The company has a market capitalization of C$746.83 million, a P/E ratio of -4.93 and a beta of 1.50. The company has a current ratio of 3.31, a quick ratio of 1.51 and a debt-to-equity ratio of 43.70. The stock’s fifty day moving average is C$10.29 and its 200 day moving average is C$12.72.

Algoma Steel Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, April 10th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.20 dividend on an annualized basis and a yield of 2.78%. Algoma Steel Group’s dividend payout ratio is presently -18.53%.

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.