AYAL Capital Advisors Ltd Buys 336,784 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

AYAL Capital Advisors Ltd lifted its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 55.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 949,284 shares of the company's stock after acquiring an additional 336,784 shares during the quarter. Algoma Steel Group accounts for about 2.4% of AYAL Capital Advisors Ltd's investment portfolio, making the stock its 3rd biggest position. AYAL Capital Advisors Ltd owned approximately 0.91% of Algoma Steel Group worth $9,284,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership boosted its stake in Algoma Steel Group by 276.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,317,083 shares of the company's stock valued at $12,884,000 after acquiring an additional 966,976 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Algoma Steel Group by 66.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 500,000 shares of the company's stock valued at $4,890,000 after purchasing an additional 200,000 shares in the last quarter. Yaupon Capital Management LP lifted its position in shares of Algoma Steel Group by 21.1% during the fourth quarter. Yaupon Capital Management LP now owns 1,084,601 shares of the company's stock worth $10,607,000 after purchasing an additional 188,695 shares during the last quarter. Walleye Capital LLC grew its stake 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 purchasing an additional 170,513 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Algoma Steel Group by 62.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 440,360 shares of the company's stock valued at $4,306,000 after buying an additional 169,765 shares during the last quarter. Institutional investors and hedge funds own 72.00% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Stifel Canada downgraded Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Royal Bank of Canada upgraded Algoma Steel Group to a "hold" rating in a research note on Tuesday, April 22nd.

Algoma Steel Group Stock Performance

Shares of NASDAQ ASTL traded down $0.18 during midday trading on Tuesday, hitting $5.46. The company's stock had a trading volume of 851,335 shares, compared to its average volume of 716,953. 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 firm's fifty day moving average price is $5.57 and its 200-day moving average price is $8.11. Algoma Steel Group Inc. has a 1-year low of $4.17 and a 1-year high of $12.14. The firm has a market cap of $572.94 million, a P/E ratio of -4.30 and a beta of 1.58.

Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.69) by $0.36. Algoma Steel Group had a negative return on equity of 10.63% and a negative net margin of 6.30%. The business had revenue of $359.30 million during the quarter, compared to analyst estimates of $327.56 million. On average, sell-side analysts forecast that Algoma Steel Group Inc. will post -0.63 EPS for the current fiscal year.

Algoma Steel Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Tuesday, May 13th. Algoma Steel Group's payout ratio is -12.99%.

Algoma Steel Group Company Profile

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.