Algoma Steel Group Inc. (TSE:ASTL) Director Purchases C$16,236.18 in Stock

Algoma Steel Group Inc. (TSE:ASTL) Director Eric Stuart Rosenfeld bought 1,926 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was acquired at an average price of C$8.43 per share, for a total transaction of C$16,236.18.

Algoma Steel Group Price Performance

Shares of Algoma Steel Group stock traded up C$0.25 during trading on Thursday, hitting C$11.67. The stock had a trading volume of 21,153 shares, compared to its average volume of 58,916. The firm has a market cap of C$1.21 billion, a price-to-earnings ratio of 17.84 and a beta of 1.52. Algoma Steel Group Inc. has a 12 month low of C$8.64 and a 12 month high of C$13.54. The business’s 50-day moving average is C$11.09 and its 200 day moving average is C$10.81. The company has a current ratio of 2.88, a quick ratio of 1.51 and a debt-to-equity ratio of 10.83.

Algoma Steel Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 29th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.20 dividend on an annualized basis and a yield of 1.71%. Algoma Steel Group’s dividend payout ratio is presently 42.19%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ASTL. Beacon Securities downgraded Algoma Steel Group from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$11.00 to C$14.00 in a research note on Tuesday, January 2nd. BMO Capital Markets cut their target price on Algoma Steel Group from C$16.00 to C$15.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 24th. Cormark cut their target price on Algoma Steel Group from C$17.50 to C$17.00 in a research note on Tuesday. Finally, Stifel Nicolaus upped their price objective on Algoma Steel Group from C$15.25 to C$16.00 in a research note on Wednesday, March 13th.

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.