Algoma Steel Group (TSE:ASTL) Trading Down 4.4% – What’s Next?

Shares of Algoma Steel Group Inc. (TSE:ASTL) were down 4.4% during trading on Monday . The stock traded as low as C$13.70 and last traded at C$13.74. Approximately 49,870 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 60,373 shares. The stock had previously closed at C$14.37.

Analysts Set New Price Targets

Separately, Stifel Nicolaus boosted their price target on Algoma Steel Group from C$20.00 to C$22.00 in a report on Friday, November 22nd.

Algoma Steel Group Stock Down 4.4 %

The firm has a fifty day simple moving average of C$14.64 and a 200 day simple moving average of C$12.87. The company has a debt-to-equity ratio of 40.70, a quick ratio of 1.51 and a current ratio of 4.19. The company has a market cap of C$1.43 billion, a PE ratio of -62.45 and a beta of 1.50.

Algoma Steel Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 27th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a yield of 1.46%. Algoma Steel Group’s payout ratio is -122.73%.

Insider Buying and Selling

In other news, Director David Daniel Sgro sold 6,845 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of C$10.06, for a total transaction of C$68,842.90. 7.57% of the stock is currently owned by company insiders.

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.