Michael Allan Mcquade Sells 36,260 Shares of Algoma Steel Group Inc. (TSE:ASTL) Stock

Algoma Steel Group Inc. (TSE:ASTL) Director Michael Allan Mcquade sold 36,260 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of C$13.80, for a total transaction of C$500,388.00.

Algoma Steel Group Stock Performance

Shares of ASTL stock opened at C$13.54 on Friday. The company has a market capitalization of C$1.41 billion, a P/E ratio of -61.50 and a beta of 1.51. Algoma Steel Group Inc. has a 52 week low of C$8.71 and a 52 week high of C$14.48. 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’s 50 day moving average price is C$12.86 and its two-hundred day moving average price is C$11.34.

Algoma Steel Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.20 annualized dividend and a yield of 1.48%. Algoma Steel Group’s dividend payout ratio is currently -122.73%.

Wall Street Analyst Weigh In

Several brokerages have commented on ASTL. Cormark upped their target price on shares of Algoma Steel Group from C$14.50 to C$18.75 in a research note on Monday, July 22nd. BMO Capital Markets upped their price objective on shares of Algoma Steel Group from C$13.00 to C$15.00 in a research report on Thursday, August 15th. Finally, Stifel Nicolaus lifted their target price on Algoma Steel Group from C$16.00 to C$19.00 in a report on Thursday, August 15th.

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.