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 company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of C$13.80, for a total value of C$500,388.00.

Algoma Steel Group Stock Up 0.9 %

Algoma Steel Group stock traded up C$0.12 during mid-day trading on Wednesday, reaching C$13.91. The stock had a trading volume of 13,786 shares, compared to its average volume of 56,982. The firm has a market capitalization of C$1.45 billion, a PE ratio of -62.68 and a beta of 1.51. Algoma Steel Group Inc. has a fifty-two week low of C$8.71 and a fifty-two week high of C$14.48. The stock’s 50-day simple moving average is C$12.69 and its 200-day simple moving average is C$11.31. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, August 23rd. Algoma Steel Group’s payout ratio is currently -122.73%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. BMO Capital Markets increased their price target on Algoma Steel Group from C$13.00 to C$15.00 in a report on Thursday, August 15th. Stifel Nicolaus increased their target price on shares of Algoma Steel Group from C$16.00 to C$19.00 in a research note on Thursday, August 15th. Finally, Cormark raised their price target on shares of Algoma Steel Group from C$14.50 to C$18.75 in a report on Monday, July 22nd.

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.