Algoma Steel Group Inc. (TSE:ASTL) Director Acquires C$16,236.18 in Stock

Algoma Steel Group Inc. (TSE:ASTL - Get Free Report) Director Eric Stuart Rosenfeld bought 1,926 shares of the stock in a transaction on Wednesday, March 27th. The shares were bought at an average price of C$8.43 per share, for a total transaction of C$16,236.18.

Algoma Steel Group Price Performance

ASTL stock traded up C$0.13 on Thursday, hitting C$11.55. 69,612 shares of the company's stock traded hands, compared to its average volume of 59,709. Algoma Steel Group Inc. has a 1-year low of C$8.64 and a 1-year high of C$13.54. The stock has a market cap of C$1.20 billion, a price-to-earnings ratio of 18.23 and a beta of 1.52. The stock has a fifty day moving average of C$11.09 and a 200-day moving average of C$10.81. The company has a current ratio of 2.88, a quick ratio of 1.51 and a debt-to-equity ratio of 10.83.

Algoma Steel Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 29th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Wednesday, February 28th. Algoma Steel Group's payout ratio is 42.19%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. BMO Capital Markets decreased their target price on shares of Algoma Steel Group from C$16.00 to C$15.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 24th. Beacon Securities downgraded shares of Algoma Steel Group from a "buy" rating to a "hold" rating and increased their price target for the stock from C$11.00 to C$14.00 in a research note on Tuesday, January 2nd. Cormark cut their target price on shares of Algoma Steel Group from C$17.50 to C$17.00 in a research note on Tuesday. Finally, Stifel Nicolaus raised their price target on shares of Algoma Steel Group from C$15.25 to C$16.00 in a report on Wednesday, March 13th.

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.