Shares of Stelco Holdings Inc (TSE:STLC – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$68.27 and last traded at C$68.23, with a volume of 44937 shares traded. The stock had previously closed at C$68.23.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on STLC shares. Stifel Nicolaus cut Stelco from a “buy” rating to a “hold” rating and lifted their price target for the company from C$47.00 to C$70.00 in a research report on Tuesday, July 16th. Cormark lowered shares of Stelco from a “buy” rating to a “tender” rating and raised their price objective for the company from C$58.50 to C$70.00 in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada boosted their target price on shares of Stelco from C$43.00 to C$70.00 in a report on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$58.25.
Read Our Latest Analysis on STLC
Stelco Stock Performance
Stelco Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 26th were paid a dividend of $0.75 per share. This is an increase from Stelco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, August 19th. This represents a $3.00 annualized dividend and a yield of 4.40%. Stelco’s dividend payout ratio is presently 95.54%.
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.
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