Algoma Steel Group Inc. (TSE:ASTL) to Issue Quarterly Dividend of $0.05

Algoma Steel Group Inc. (TSE:ASTL) announced a quarterly dividend on Tuesday, May 13th, TickerTech Dividends reports. Investors of record on Friday, May 30th will be paid a dividend of 0.05 per share on Friday, May 30th. This represents a $0.20 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Tuesday, May 13th.

Algoma Steel Group Trading Up 3.3 %

Shares of ASTL stock opened at C$8.36 on Friday. The company has a market cap of C$868.35 million, a P/E ratio of -5.74 and a beta of 1.50. Algoma Steel Group has a fifty-two week low of C$5.91 and a fifty-two week high of C$16.83. The stock has a 50 day simple moving average of C$7.72 and a two-hundred day simple moving average of C$11.36. The company has a debt-to-equity ratio of 43.70, a quick ratio of 1.51 and a current ratio of 3.31.

Analyst Ratings Changes

Several brokerages have recently issued reports on ASTL. Stifel Nicolaus decreased their target price on Algoma Steel Group from C$15.25 to C$14.75 and set a “hold” rating for the company in a research report on Thursday, April 17th. BMO Capital Markets lowered their price objective on shares of Algoma Steel Group from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Finally, Royal Bank of Canada set a C$8.00 target price on shares of Algoma Steel Group and gave the company a “sector perform” rating in a research report on Tuesday, April 22nd.

Insider Activity at Algoma Steel Group

In other news, Senior Officer Michael Moraca acquired 3,800 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The stock was bought at an average cost of C$7.82 per share, for a total transaction of C$29,716.00. 7.57% of the stock is currently owned by company insiders.

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.