Algoma Steel Group Inc. (TSE:ASTL) Director Eric Stuart Rosenfeld Acquires 1,926 Shares

Algoma Steel Group Inc. (TSE:ASTL) Director Eric Stuart Rosenfeld acquired 1,926 shares of Algoma Steel Group stock in a transaction dated Wednesday, March 27th. The shares were acquired at an average price of C$8.43 per share, with a total value of C$16,236.18.

Algoma Steel Group Price Performance

Shares of ASTL traded up C$0.25 during mid-day trading on Thursday, reaching C$11.67. 21,153 shares of the stock traded hands, compared to its average volume of 58,916. The firm has a fifty day moving average price of C$11.09 and a 200 day moving average price of C$10.81. The company has a market cap of C$1.21 billion, a price-to-earnings ratio of 17.84 and a beta of 1.52. The company has a current ratio of 2.88, a quick ratio of 1.51 and a debt-to-equity ratio of 10.83. Algoma Steel Group Inc. has a 1 year low of C$8.64 and a 1 year high of C$13.54.

Algoma Steel Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 29th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, February 28th. Algoma Steel Group’s dividend payout ratio (DPR) is presently 42.19%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of Algoma Steel Group from C$15.25 to C$16.00 in a research report on Wednesday, March 13th. Beacon Securities cut shares of Algoma Steel Group from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$11.00 to C$14.00 in a research report on Tuesday, January 2nd. BMO Capital Markets dropped their target price on shares of Algoma Steel Group from C$16.00 to C$15.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Finally, Cormark dropped their target price on shares of Algoma Steel Group from C$17.50 to C$17.00 in a research report on Tuesday.

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.