Stelco (TSE:STLC) Reaches New 12-Month High - Still a Buy?

Stelco Holdings Inc (TSE:STLC - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$67.70 and last traded at C$67.64, with a volume of 83708 shares changing hands. The stock had previously closed at C$67.38.

Analysts Set New Price Targets

Several research firms recently commented on STLC. Stifel Nicolaus downgraded shares of Stelco from a "buy" rating to a "hold" rating and raised their price target for the stock from C$47.00 to C$70.00 in a research note on Tuesday, July 16th. Royal Bank of Canada raised their target price on shares of Stelco from C$43.00 to C$70.00 in a research report on Tuesday, July 16th. Finally, Cormark lowered Stelco from a "buy" rating to a "tender" rating and boosted their price target for the company from C$58.50 to C$70.00 in a report on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of C$58.25.

Stelco Stock Performance

The company has a debt-to-equity ratio of 60.97, a quick ratio of 1.55 and a current ratio of 1.85. The stock has a market cap of C$3.68 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 0.03 and a beta of 2.69. The firm has a fifty day moving average price of C$65.87 and a 200 day moving average price of C$52.22.

Stelco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 26th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Monday, August 19th. This is an increase from Stelco's previous quarterly dividend of $0.50. Stelco's payout ratio is currently 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.