Algoma Steel Group Inc. (TSE:ASTL) Director Sells C$112,381.50 in Stock

Algoma Steel Group Inc. (TSE:ASTLGet Free Report) Director David Daniel Sgro sold 15,000 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of C$7.49, for a total value of C$112,381.50.

Algoma Steel Group Stock Performance

Shares of Algoma Steel Group stock traded up C$0.17 on Monday, reaching C$10.76. 108,436 shares of the company traded hands, compared to its average volume of 121,677. The company has a 50 day moving average of C$9.43 and a 200 day moving average of C$9.65. The company has a debt-to-equity ratio of 8.43, a current ratio of 3.23 and a quick ratio of 1.51. Algoma Steel Group Inc. has a 52 week low of C$7.70 and a 52 week high of C$12.52. The firm has a market capitalization of C$1.11 billion, a PE ratio of 12.46 and a beta of 1.46.

Algoma Steel Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 29th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.20 annualized dividend and a dividend yield of 1.86%. Algoma Steel Group’s payout ratio is presently 32.94%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ASTL shares. Cormark boosted their target price on Algoma Steel Group from C$11.75 to C$12.50 in a research note on Monday, August 14th. Stifel Nicolaus upped their price objective on Algoma Steel Group from C$14.00 to C$15.00 in a research note on Monday, November 6th.

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Algoma Steel Group Company Profile

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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.

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