Stelco (TSE:STLC) Stock Price Up 5.6%

Shares of Stelco Holdings Inc (TSE:STLC) shot up 5.6% during trading on Thursday . The stock traded as high as C$42.00 and last traded at C$41.53. 89,941 shares were traded during mid-day trading, a decline of 48% from the average session volume of 174,205 shares. The stock had previously closed at C$39.34.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Cormark reduced their price target on shares of Stelco from C$60.00 to C$58.50 in a research report on Wednesday, May 1st. National Bankshares decreased their price objective on Stelco from C$55.00 to C$54.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 10th. Stifel Nicolaus cut their target price on shares of Stelco from C$52.00 to C$49.00 and set a “buy” rating for the company in a research note on Friday, April 19th. JPMorgan Chase & Co. decreased their price target on shares of Stelco from C$56.00 to C$50.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Finally, UBS Group set a C$51.00 price objective on shares of Stelco and gave the company a “neutral” rating in a research report on Tuesday, January 16th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$51.06.

Stelco Price Performance

The company has a market capitalization of C$2.29 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 0.03 and a beta of 2.38. The company has a quick ratio of 1.55, a current ratio of 1.85 and a debt-to-equity ratio of 69.44. The company has a 50 day simple moving average of C$41.65 and a 200 day simple moving average of C$42.66.

Stelco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, March 7th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.83%. This is a boost from Stelco’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, February 29th. Stelco’s payout ratio is 74.07%.

Stelco Company Profile

Stelco Holdings Inc is Canada-based company and owner of one of the technologically advanced integrated steelmaking facilities in North America. The Company produce flat-rolled value-added steels, including coated, cold-rolled and hot-rolled steel products as well as metallurgical coke. With gauge, crown, and shape control, as well as reliable uniformity of mechanical properties, The Company’s steel products are supplied to customers in the construction, automotive and energy industries across Canada and the United States, as well as to a variety of steel service centers, which are regional distributors of steel products.