Algoma Steel Group (NASDAQ:ASTL) PT Lowered to C$14.00

Algoma Steel Group (NASDAQ:ASTLGet Rating) had its price objective trimmed by Stifel Nicolaus from C$14.50 to C$14.00 in a research note published on Wednesday morning, The Fly reports.

Algoma Steel Group Trading Down 2.9 %

Shares of NASDAQ ASTL opened at $7.78 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.48 and a current ratio of 2.08. The business’s 50 day moving average price is $9.19 and its 200-day moving average price is $9.62. Algoma Steel Group has a fifty-two week low of $7.75 and a fifty-two week high of $13.65. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 1.25 and a beta of 1.16.

Algoma Steel Group (NASDAQ:ASTLGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.07). Algoma Steel Group had a return on equity of 83.33% and a net margin of 24.16%. The firm had revenue of $731.96 million during the quarter, compared to the consensus estimate of $761.38 million. On average, sell-side analysts expect that Algoma Steel Group will post 3.32 earnings per share for the current year.

Algoma Steel Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, August 30th. This represents a $0.20 annualized dividend and a dividend yield of 2.57%. Algoma Steel Group’s dividend payout ratio (DPR) is currently 3.21%.

Institutional Investors Weigh In On Algoma Steel Group

A number of large investors have recently bought and sold shares of the company. ARS Investment Partners LLC boosted its position in Algoma Steel Group by 5.6% in the second quarter. ARS Investment Partners LLC now owns 51,000 shares of the company’s stock valued at $458,000 after buying an additional 2,700 shares during the last quarter. Burgundy Asset Management Ltd. boosted its position in Algoma Steel Group by 3.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 124,480 shares of the company’s stock worth $1,111,000 after purchasing an additional 4,100 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Algoma Steel Group in the 1st quarter worth approximately $56,000. National Bank of Canada FI boosted its position in Algoma Steel Group by 198.6% in the 2nd quarter. National Bank of Canada FI now owns 8,958 shares of the company’s stock worth $80,000 after purchasing an additional 5,958 shares in the last quarter. Finally, Ulland Investment Advisors LLC purchased a new stake in Algoma Steel Group in the 2nd quarter worth approximately $55,000. Hedge funds and other institutional investors own 60.70% of the company’s stock.

Algoma Steel Group Company Profile

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Algoma Steel Group Inc produces and sells steel products primarily in North America. It 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.

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