Stelco (TSE:STLC) Sets New 52-Week High – Should You Buy?

Stelco Holdings Inc (TSE:STLC) 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.

Analyst Ratings Changes

A number of research firms recently issued reports on STLC. Royal Bank of Canada boosted their target price on shares of Stelco from C$43.00 to C$70.00 in a research report on Tuesday, July 16th. Stifel Nicolaus downgraded shares of Stelco from a “buy” rating to a “hold” rating and upped their price objective for the stock from C$47.00 to C$70.00 in a research report on Tuesday, July 16th. Finally, Cormark downgraded shares of Stelco from a “buy” rating to a “tender” rating and upped their price objective for the stock from C$58.50 to C$70.00 in a research report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of C$58.25.

Stelco Stock Performance

The company has a market cap of C$3.68 billion, a PE ratio of 21.46, a PEG ratio of 0.03 and a beta of 2.69. 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’s 50 day moving average is C$65.87 and its 200-day moving average is C$52.22.

Stelco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 26th were paid a $0.75 dividend. This is a boost from Stelco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, August 19th. This represents a $3.00 annualized dividend and a dividend yield of 4.44%. Stelco’s dividend payout ratio is 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.