Algoma Steel Group (TSE:ASTL) Trading Down 1.8% – Here’s What Happened

Algoma Steel Group Inc. (TSE:ASTL) dropped 1.8% during trading on Tuesday . The stock traded as low as C$12.29 and last traded at C$12.40. Approximately 80,552 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 101,775 shares. The stock had previously closed at C$12.63.

Analyst Ratings Changes

Separately, Stifel Nicolaus raised their target price on shares of Algoma Steel Group from C$20.00 to C$22.00 in a research report on Friday, November 22nd.

Algoma Steel Group Price Performance

The stock has a market cap of C$1.25 billion, a P/E ratio of -54.64 and a beta of 1.50. The company has a debt-to-equity ratio of 40.70, a quick ratio of 1.51 and a current ratio of 4.19. The firm has a 50-day moving average price of C$14.56 and a 200-day moving average price of C$13.23.

Algoma Steel Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 27th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Wednesday, November 27th. Algoma Steel Group’s dividend payout ratio is currently -122.73%.

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.