Stelco (TSE:STLC) Trading 5.6% Higher

Stelco Holdings Inc (TSE:STLC - Get Free Report) was up 5.6% during trading on Thursday . The stock traded as high as C$42.00 and last traded at C$41.53. Approximately 89,941 shares changed hands during trading, a decline of 48% from the average daily volume of 174,205 shares. The stock had previously closed at C$39.34.

Analysts Set New Price Targets

A number of research analysts have issued reports on STLC shares. JPMorgan Chase & Co. reduced their price objective on Stelco from C$56.00 to C$50.00 and set an "overweight" rating for the company in a research note on Friday, February 23rd. Cormark lowered their price target on Stelco from C$60.00 to C$58.50 in a report on Wednesday, May 1st. Stifel Nicolaus reduced their price objective on Stelco from C$52.00 to C$49.00 and set a "buy" rating on the stock in a research report on Friday, April 19th. Scotiabank increased their price objective on Stelco from C$46.00 to C$51.00 and gave the stock a "sector perform" rating in a report on Friday, February 23rd. Finally, UBS Group set a C$51.00 price objective on Stelco and gave the stock a "neutral" rating in a report on Tuesday, January 16th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Stelco has a consensus rating of "Moderate Buy" and an average target price of C$51.06.

Stelco Stock Performance

The stock has a market cap of C$2.28 billion, a P/E ratio of 15.35, a PEG ratio of 0.03 and a beta of 2.38. The business has a 50 day moving average price of C$41.65 and a 200 day moving average price of C$42.66. The company has a quick ratio of 1.55, a current ratio of 1.85 and a debt-to-equity ratio of 69.44.

Stelco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, March 7th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Stelco's previous quarterly dividend of $0.42. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.84%. Stelco's dividend payout ratio (DPR) is currently 74.07%.

Stelco Company Profile

Stelco Holdings Inc is Canada-based company and owner of one of the technologically advanced integrated steelmaking facilities in North America. The Company produce flat-rolled value-added steels, including coated, cold-rolled and hot-rolled steel products as well as metallurgical coke. With gauge, crown, and shape control, as well as reliable uniformity of mechanical properties, The Company's steel products are supplied to customers in the construction, automotive and energy industries across Canada and the United States, as well as to a variety of steel service centers, which are regional distributors of steel products.