Stifel Nicolaus upgraded shares of Algoma Steel Group (NASDAQ:ASTL – Get Rating) from a hold rating to a buy rating in a research report sent to investors on Wednesday, The Fly reports.
Separately, BMO Capital Markets reduced their price target on shares of Algoma Steel Group from C$14.00 to C$11.00 in a report on Tuesday, January 10th.
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Algoma Steel Group Price Performance
Shares of NASDAQ ASTL opened at $7.26 on Wednesday. Algoma Steel Group has a twelve month low of $5.64 and a twelve month high of $12.50. The firm has a fifty day simple moving average of $6.37 and a 200 day simple moving average of $7.60. The company has a market capitalization of $751.90 million, a PE ratio of 2.18 and a beta of 1.29. The company has a quick ratio of 1.79, a current ratio of 3.57 and a debt-to-equity ratio of 0.06.
Algoma Steel Group (NASDAQ:ASTL – Get Rating) last announced its earnings results on Monday, November 7th. The company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.05. Algoma Steel Group had a net
margin of 21.31% and a return on equity of 56.35%. The business had revenue of $459.36 million during the quarter, compared to the consensus estimate of $462.92 million. On average, sell-side analysts forecast that Algoma Steel Group will post 1.58 EPS for the current year.
Algoma Steel Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Wednesday, November 30th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Tuesday, November 29th. Algoma Steel Group's dividend payout ratio is currently 6.01%.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. UBS Group AG bought a new position in shares of Algoma Steel Group during the third quarter valued at about $34,000. Ulland Investment Advisors LLC bought a new position in shares of Algoma Steel Group during the second quarter valued at about $55,000. Quantamental Technologies LLC bought a new position in shares of Algoma Steel Group during the third quarter valued at about $70,000. Grantham Mayo Van Otterloo & Co. LLC bought a new position in shares of Algoma Steel Group during the third quarter valued at about $76,000. Finally, National Bank of Canada FI lifted its position in shares of Algoma Steel Group by 198.6% during the second quarter. National Bank of Canada FI now owns 8,958 shares of the company's stock valued at $80,000 after purchasing an additional 5,958 shares in the last quarter. 63.83% of the stock is owned by institutional investors.
Algoma Steel Group Company Profile
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Algoma Steel Group Inc produces and sells steel products primarily in North America. It 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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