Insider Selling: Algoma Steel Group Inc. (TSE:ASTL) Director Sells C$68,842.90 in Stock

Algoma Steel Group Inc. (TSE:ASTL) Director David Daniel Sgro sold 6,845 shares of Algoma Steel Group stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of C$10.06, for a total value of C$68,842.90.

Algoma Steel Group Trading Down 2.1 %

TSE:ASTL opened at C$13.26 on Monday. The company’s 50 day moving average is C$12.99 and its 200-day moving average is C$11.38. The company has a quick ratio of 1.51, a current ratio of 4.19 and a debt-to-equity ratio of 40.70. Algoma Steel Group Inc. has a 12 month low of C$8.71 and a 12 month high of C$14.48. The firm has a market cap of C$1.38 billion, a price-to-earnings ratio of -60.27 and a beta of 1.51.

Algoma Steel Group Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.20 annualized dividend and a yield of 1.51%. Algoma Steel Group’s dividend payout ratio (DPR) is presently -122.73%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Algoma Steel Group from C$16.00 to C$19.00 in a research note on Thursday, August 15th. BMO Capital Markets lifted their price objective on shares of Algoma Steel Group from C$13.00 to C$15.00 in a research note on Thursday, August 15th. Finally, Cormark increased their target price on shares of Algoma Steel Group from C$14.50 to C$18.75 in a research report on Monday, July 22nd.

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.