David Daniel Sgro Sells 6,845 Shares of Algoma Steel Group Inc. (TSE:ASTL) Stock

Algoma Steel Group Inc. (TSE:ASTL) Director David Daniel Sgro sold 6,845 shares of Algoma Steel Group stock in a transaction on Thursday, September 19th. The shares were sold at an average price of C$10.06, for a total value of C$68,842.90.

Algoma Steel Group Stock Down 2.1 %

Shares of Algoma Steel Group stock opened at C$13.26 on Friday. Algoma Steel Group Inc. has a 12-month low of C$8.71 and a 12-month high of C$14.48. The firm has a market capitalization of C$1.38 billion, a PE ratio of -60.27 and a beta of 1.51. The company has a quick ratio of 1.51, a current ratio of 4.19 and a debt-to-equity ratio of 40.70. The stock’s fifty day moving average is C$12.99 and its 200-day moving average is C$11.37.

Algoma Steel Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, August 23rd. This represents a $0.20 annualized dividend and a yield of 1.51%. Algoma Steel Group’s payout ratio is presently -122.73%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ASTL shares. BMO Capital Markets lifted their target price on Algoma Steel Group from C$13.00 to C$15.00 in a report on Thursday, August 15th. Cormark raised their price objective on shares of Algoma Steel Group from C$14.50 to C$18.75 in a research report on Monday, July 22nd. Finally, Stifel Nicolaus boosted their target price on shares of Algoma Steel Group from C$16.00 to C$19.00 in a report on Thursday, August 15th.

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.