Stifel Nicolaus upgraded shares of Algoma Steel Group (NASDAQ:ASTL – Get Rating) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning, The Fly reports.
Separately, BMO Capital Markets lowered their price objective on shares of Algoma Steel Group from C$14.00 to C$11.00 in a research note on Tuesday, January 10th.
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Algoma Steel Group Stock Up 5.4 %
Shares of ASTL opened at $7.26 on Wednesday. The firm has a market capitalization of $751.90 million, a P/E ratio of 2.18 and a beta of 1.29. Algoma Steel Group has a 12-month low of $5.64 and a 12-month high of $12.50. The company has a current ratio of 3.57, a quick ratio of 1.79 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $6.37 and a 200-day moving average price of $7.59.
Algoma Steel Group (NASDAQ:ASTL – Get Rating) last released its quarterly earnings data 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 company had revenue of $459.36 million during the quarter, compared to analyst estimates of $462.92 million. Equities research analysts expect that Algoma Steel Group will post 1.58 earnings per share for the current year.
Algoma Steel Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Wednesday, November 30th were issued a $0.05 dividend. The ex-dividend date was Tuesday, November 29th. This represents a $0.20 dividend on an annualized basis and a yield of 2.75%. Algoma Steel Group's dividend payout ratio is presently 6.01%.
Hedge Funds Weigh In On Algoma Steel Group
A number of large investors have recently added to or reduced their stakes in ASTL. JPMorgan Chase & Co. raised its holdings in Algoma Steel Group by 1,414.9% in the first quarter. JPMorgan Chase & Co. now owns 51,508 shares of the company's stock worth $579,000 after purchasing an additional 48,108 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Algoma Steel Group by 30.4% during the first quarter. Bank of Montreal Can now owns 75,868 shares of the company's stock valued at $870,000 after acquiring an additional 17,698 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Algoma Steel Group during the first quarter valued at about $561,000. Renaissance Technologies LLC acquired a new position in shares of Algoma Steel Group during the first quarter valued at about $730,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Algoma Steel Group during the first quarter valued at about $249,000. 63.83% of the stock is currently 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.
Further Reading
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該公司最近還宣佈了季度股息，股息於12月30日(星期五)支付。11月30日(星期三)登記在冊的股東獲得了0.05美元的股息。除息日期是11月29日星期二。這意味著年化股息為0.20美元，收益率為2.75%。阿爾戈馬鋼鐵集團目前的股息支付率為6.01%。