Stelco (TSE:STLC) Sets New 12-Month High - Here's What Happened

Stelco Holdings Inc (TSE:STLC - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as C$68.27 and last traded at C$68.23, with a volume of 44937 shares trading hands. The stock had previously closed at C$68.23.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Royal Bank of Canada raised their price target on Stelco from C$43.00 to C$70.00 in a research report on Tuesday, July 16th. Cormark cut Stelco from a "buy" rating to a "tender" rating and raised their price objective for the company from C$58.50 to C$70.00 in a research note on Tuesday, July 16th. Finally, Stifel Nicolaus cut Stelco from a "buy" rating to a "hold" rating and raised their price objective for the company 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 issued a buy rating to the stock. According to MarketBeat.com, Stelco currently has an average rating of "Hold" and a consensus target price of C$58.25.

Stelco Stock Performance

The company has a 50-day simple moving average of C$66.21 and a two-hundred day simple moving average of C$53.54. 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 firm has a market capitalization of C$3.73 billion, a P/E ratio of 21.76, a PEG ratio of 0.03 and a beta of 2.69.

Stelco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 26th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.38%. This is a positive change from Stelco's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, August 19th. Stelco's dividend payout ratio (DPR) 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.