Algoma Steel Group (TSE:ASTL) Sets New 52-Week Low – Time to Sell?

Algoma Steel Group Inc. (TSE:ASTL)’s stock price hit a new 52-week low on Wednesday . The company traded as low as C$6.06 and last traded at C$6.16, with a volume of 304490 shares. The stock had previously closed at C$6.79.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus decreased their price target on shares of Algoma Steel Group from C$21.00 to C$15.25 and set a “buy” rating on the stock in a research report on Friday, March 14th.

Algoma Steel Group Price Performance

The stock has a 50 day moving average of C$9.71 and a two-hundred day moving average of C$12.45. The company has a debt-to-equity ratio of 43.70, a quick ratio of 1.51 and a current ratio of 3.31. The stock has a market cap of C$639.84 million, a PE ratio of -4.23 and a beta of 1.50.

Algoma Steel Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, April 10th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Friday, March 21st. Algoma Steel Group’s dividend payout ratio (DPR) is currently -18.53%.

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.