Algoma Steel Group Inc. (TSE:ASTL – Get Free Report)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as C$14.07 and last traded at C$14.03, with a volume of 33271 shares changing hands. The stock had previously closed at C$13.45.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on ASTL. Stifel Nicolaus lifted their price target on Algoma Steel Group from C$16.00 to C$19.00 in a report on Thursday, August 15th. Cormark lifted their target price on Algoma Steel Group from C$14.50 to C$18.75 in a research note on Monday, July 22nd. Finally, BMO Capital Markets increased their price target on shares of Algoma Steel Group from C$13.00 to C$15.00 in a research report on Thursday, August 15th.
Check Out Our Latest Research Report on Algoma Steel Group
Algoma Steel Group Trading Up 2.2 %
Algoma Steel Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Friday, August 23rd. Algoma Steel Group’s dividend payout ratio is presently -122.73%.
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.
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