Stelco (TSE:STLC) Reaches New 12-Month High at $67.00

Stelco Holdings Inc (TSE:STLC)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$67.00 and last traded at C$66.67, with a volume of 27457 shares changing hands. The stock had previously closed at C$66.16.

Analyst Ratings Changes

A number of brokerages have weighed in on STLC. JPMorgan Chase & Co. decreased their target price on shares of Stelco from C$50.00 to C$47.00 and set an “overweight” rating for the company in a research note on Tuesday, June 11th. BMO Capital Markets cut their target price on Stelco from C$58.00 to C$55.00 and set an “outperform” rating on the stock in a research note on Monday, June 10th. Royal Bank of Canada upped their price target on shares of Stelco from C$43.00 to C$70.00 in a research note on Tuesday, July 16th. Cormark cut shares of Stelco from a “buy” rating to a “tender” rating and lifted their target price for the stock from C$58.50 to C$70.00 in a report on Tuesday, July 16th. Finally, Stifel Nicolaus cut shares of Stelco from a “buy” rating to a “hold” rating and increased their price target for the company from C$47.00 to C$70.00 in a report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$58.25.

Stelco Price Performance

The firm has a 50-day simple moving average of C$65.55 and a 200-day simple moving average of C$49.22. The company has a debt-to-equity ratio of 60.97, a current ratio of 1.85 and a quick ratio of 1.55. The firm has a market capitalization of C$3.64 billion, a PE ratio of 21.07, a PEG ratio of 0.03 and a beta of 2.70.

Stelco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 26th were given a $0.75 dividend. The ex-dividend date was Monday, August 19th. This is an increase from Stelco’s previous quarterly dividend of $0.50. This represents a $3.00 annualized dividend and a yield of 4.49%. Stelco’s dividend payout ratio (DPR) is presently 95.54%.

About Stelco

Stelco Holdings Inc is Canada-based company and owner of one of the technologically advanced integrated steelmaking facilities in North America. The Company produce flat-rolled value-added steels, including coated, cold-rolled and hot-rolled steel products as well as metallurgical coke. With gauge, crown, and shape control, as well as reliable uniformity of mechanical properties, The Company’s steel products are supplied to customers in the construction, automotive and energy industries across Canada and the United States, as well as to a variety of steel service centers, which are regional distributors of steel products.