Algoma Steel Group Inc. (TSE:ASTL) Announces Quarterly Dividend of $0.05

Algoma Steel Group Inc. (TSE:ASTL) announced a quarterly dividend on Tuesday, May 13th, TickerTech Dividends reports. Investors of record on Friday, May 30th will be paid a dividend of 0.05 per share on Friday, May 30th. This represents a $0.20 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Tuesday, May 13th.

Algoma Steel Group Trading Up 3.3 %

Shares of ASTL opened at C$8.36 on Friday. Algoma Steel Group has a 1 year low of C$5.91 and a 1 year high of C$16.83. The company has a 50 day simple moving average of C$7.72 and a two-hundred day simple moving average of C$11.36. The company has a debt-to-equity ratio of 43.70, a current ratio of 3.31 and a quick ratio of 1.51. The firm has a market cap of C$868.35 million, a P/E ratio of -5.74 and a beta of 1.50.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Stifel Nicolaus dropped their price objective on shares of Algoma Steel Group from C$15.25 to C$14.75 and set a “hold” rating for the company in a research note on Thursday, April 17th. Royal Bank of Canada set a C$8.00 price target on shares of Algoma Steel Group and gave the company a “sector perform” rating in a report on Tuesday, April 22nd. Finally, BMO Capital Markets decreased their price objective on Algoma Steel Group from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th.

Insider Transactions at Algoma Steel Group

In related news, Senior Officer Michael Moraca acquired 3,800 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were purchased at an average cost of C$7.82 per share, with a total value of C$29,716.00. Insiders own 7.57% of the company’s stock.

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.