Algoma Steel Group Inc. (TSE:ASTL) Director David Daniel Sgro Sells 6,845 Shares

Algoma Steel Group Inc. (TSE:ASTL) Director David Daniel Sgro sold 6,845 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of C$10.06, for a total transaction of C$68,842.90.

Algoma Steel Group Stock Down 2.1 %

Shares of Algoma Steel Group stock traded down C$0.28 on Friday, reaching C$13.26. 201,718 shares of the company were exchanged, compared to its average volume of 58,238. Algoma Steel Group Inc. has a 1-year low of C$8.71 and a 1-year high of C$14.48. The company has a market cap of C$1.38 billion, a P/E ratio of -60.14 and a beta of 1.51. The company has a debt-to-equity ratio of 40.70, a current ratio of 4.19 and a quick ratio of 1.51. The stock’s 50 day moving average price is C$12.93 and its 200-day moving average price is C$11.36.

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 issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Friday, August 23rd. Algoma Steel Group’s dividend payout ratio (DPR) is -122.73%.

Wall Street Analysts Forecast Growth

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

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.