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

Stelco Holdings Inc (TSE:STLC - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as C$67.93 and last traded at C$67.73, with a volume of 118778 shares changing hands. The stock had previously closed at C$67.93.

Analysts Set New Price Targets

Several brokerages have recently issued reports on STLC. Royal Bank of Canada increased their price target on shares of Stelco from C$43.00 to C$70.00 in a research report on Tuesday, July 16th. Cormark lowered shares of Stelco from a "buy" rating to a "tender" rating and increased their target price for the stock from C$58.50 to C$70.00 in a report on Tuesday, July 16th. Finally, Stifel Nicolaus downgraded shares of Stelco from a "buy" rating to a "hold" rating and boosted their price target for the stock from C$47.00 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of C$58.25.

Stelco Stock Performance

The company has a quick ratio of 1.55, a current ratio of 1.85 and a debt-to-equity ratio of 60.97. The company has a market cap of C$3.68 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 0.03 and a beta of 2.69. The firm has a fifty day simple moving average of C$66.06 and a 200-day simple moving average of C$53.03.

Stelco Increases Dividend

The company also recently declared 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 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 annualized dividend and a yield of 4.44%. Stelco's payout ratio is 95.54%.

About Stelco

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.