Insider Selling: Algoma Steel Group Inc. (TSE:ASTL) Director Sells 6,845 Shares of Stock

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

Algoma Steel Group Price Performance

TSE:ASTL opened at C$13.26 on Monday. 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 company has a 50-day moving average of C$12.99 and a 200-day moving average of C$11.38. Algoma Steel Group Inc. has a 52 week low of C$8.71 and a 52 week high of C$14.48. The company has a market capitalization 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 firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Friday, August 23rd. Algoma Steel Group’s dividend payout ratio (DPR) is presently -122.73%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Algoma Steel Group from C$13.00 to C$15.00 in a report on Thursday, August 15th. Stifel Nicolaus upped their price target on Algoma Steel Group from C$16.00 to C$19.00 in a report on Thursday, August 15th. Finally, Cormark raised their price objective on 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.