Adage Capital Partners GP L.L.C. boosted its stake in Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 66.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 500,000 shares of the company's stock after acquiring an additional 200,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.48% of Algoma Steel Group worth $4,890,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ASTL. Arrowstreet Capital Limited Partnership boosted its holdings in Algoma Steel Group by 276.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,317,083 shares of the company's stock valued at $12,884,000 after purchasing an additional 966,976 shares during the last quarter. Yaupon Capital Management LP lifted its holdings in Algoma Steel Group by 21.1% in the fourth quarter. Yaupon Capital Management LP now owns 1,084,601 shares of the company's stock valued at $10,607,000 after acquiring an additional 188,695 shares during the last quarter. Walleye Capital LLC grew its position in Algoma Steel Group by 314.3% in the fourth quarter. Walleye Capital LLC now owns 224,760 shares of the company's stock worth $2,198,000 after acquiring an additional 170,513 shares during the period. Dimensional Fund Advisors LP increased its stake in Algoma Steel Group by 62.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 440,360 shares of the company's stock worth $4,306,000 after acquiring an additional 169,765 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Algoma Steel Group in the fourth quarter valued at $1,248,000. Hedge funds and other institutional investors own 72.00% of the company's stock.
Algoma Steel Group Trading Up 7.9 %
Shares of NASDAQ ASTL traded up $0.42 during trading on Friday, reaching $5.76. The stock had a trading volume of 816,922 shares, compared to its average volume of 714,987. The business's 50-day moving average price is $5.60 and its 200-day moving average price is $8.14. Algoma Steel Group Inc. has a fifty-two week low of $4.17 and a fifty-two week high of $12.14. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 3.31. The company has a market cap of $604.42 million, a P/E ratio of -4.54 and a beta of 1.57.
Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.36. Algoma Steel Group had a negative net margin of 6.30% and a negative return on equity of 10.63%. The business had revenue of $359.30 million for the quarter, compared to analysts' expectations of $327.56 million. On average, equities research analysts predict that Algoma Steel Group Inc. will post -0.63 EPS for the current fiscal year.
Algoma Steel Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Tuesday, May 13th. Algoma Steel Group's dividend payout ratio is currently -12.99%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on ASTL. Royal Bank of Canada upgraded Algoma Steel Group to a "hold" rating in a report on Tuesday, April 22nd. Stifel Canada downgraded shares of Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th.
View Our Latest Stock Report on ASTL
About Algoma Steel Group
(
Free Report)
Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.
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