Stelco Holdings Inc (TSE:STLC – Get Free Report)’s share price traded up 0.1% during trading on Monday . The stock traded as high as C$66.48 and last traded at C$66.16. 238,669 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 254,744 shares. The stock had previously closed at C$66.11.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. BMO Capital Markets cut their price objective on shares of Stelco from C$58.00 to C$55.00 and set an “outperform” rating for the company in a report on Monday, June 10th. Cormark cut shares of Stelco from a “buy” rating to a “tender” rating and boosted their price target for the stock from C$58.50 to C$70.00 in a research note on Tuesday, July 16th. JPMorgan Chase & Co. cut their price objective on Stelco from C$50.00 to C$47.00 and set an “overweight” rating for the company in a research report on Tuesday, June 11th. Stifel Nicolaus cut Stelco from a “buy” rating to a “hold” rating and lifted their target price for the stock from C$47.00 to C$70.00 in a report on Tuesday, July 16th. Finally, Royal Bank of Canada increased their price target on Stelco from C$43.00 to C$70.00 in a research note on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Stelco presently has a consensus rating of “Hold” and a consensus price target of C$58.25.
Check Out Our Latest Stock Analysis on Stelco
Stelco Stock Up 0.1 %
Stelco Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 26th were issued a $0.75 dividend. This is a positive change from Stelco’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, August 19th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 4.53%. Stelco’s payout ratio is presently 95.54%.
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.
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