Algoma Steel Group (NASDAQ:ASTL) Trading Up 6.5% - What's Next?

Shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Get Free Report) rose 6.5% on Friday . The company traded as high as $5.58 and last traded at $5.65. Approximately 129,382 shares changed hands during trading, a decline of 83% from the average daily volume of 752,090 shares. The stock had previously closed at $5.30.

Analyst Ratings Changes

ASTL has been the subject of a number of recent analyst reports. Royal Bank of Canada raised shares of Algoma Steel Group to a "hold" rating in a research report on Tuesday, April 22nd. BMO Capital Markets downgraded shares of Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a report on Monday, June 2nd. Finally, Stifel Canada downgraded shares of Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th.

Algoma Steel Group Stock Down 0.3%

The firm has a market cap of $614.91 million, a price-to-earnings ratio of -4.61 and a beta of 1.56. The firm's fifty day moving average is $5.23 and its two-hundred day moving average is $7.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.31 and a quick ratio of 1.66.

Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.33) 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 firm had revenue of $359.30 million for the quarter, compared to analysts' expectations of $327.56 million. On average, sell-side analysts expect that Algoma Steel Group Inc. will post -0.63 EPS for the current fiscal year.

Algoma Steel Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.41%. The ex-dividend date was Tuesday, May 13th. Algoma Steel Group's dividend payout ratio (DPR) is presently -12.99%.

Institutional Investors Weigh In On Algoma Steel Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. EJF Capital LLC acquired a new stake in Algoma Steel Group during the 1st quarter worth about $60,000. Aquatic Capital Management LLC acquired a new stake in Algoma Steel Group during the 4th quarter worth about $64,000. Aigen Investment Management LP acquired a new stake in Algoma Steel Group during the 1st quarter worth about $69,000. Squarepoint Ops LLC acquired a new stake in Algoma Steel Group during the 4th quarter worth about $114,000. Finally, Two Sigma Advisers LP acquired a new stake in Algoma Steel Group during the 4th quarter worth about $117,000. 72.00% of the stock is currently owned by institutional investors.

About Algoma Steel Group

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.