Bain Capital Credit LP Has $8.19 Million Stake in Algoma Steel Group Inc. (NASDAQ:ASTL)

Bain Capital Credit LP decreased its holdings in Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 41.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 837,212 shares of the company's stock after selling 595,156 shares during the quarter. Algoma Steel Group accounts for about 1.8% of Bain Capital Credit LP's portfolio, making the stock its 6th largest holding. Bain Capital Credit LP owned approximately 0.80% of Algoma Steel Group worth $8,188,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Aquatic Capital Management LLC bought a new position in Algoma Steel Group in the 4th quarter valued at about $64,000. Corient Private Wealth LLC acquired a new position in Algoma Steel Group during the fourth quarter valued at approximately $147,000. Jump Financial LLC bought a new stake in Algoma Steel Group during the fourth quarter worth $204,000. Wells Fargo & Company MN bought a new position in shares of Algoma Steel Group in the 4th quarter valued at $210,000. Finally, Terril Brothers Inc. bought a new stake in shares of Algoma Steel Group during the 4th quarter worth $214,000. Institutional investors own 72.00% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on ASTL. Stifel Canada downgraded Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Royal Bank of Canada upgraded shares of Algoma Steel Group to a "hold" rating in a research report on Tuesday, April 22nd.

Algoma Steel Group Trading Up 7.9 %

Shares of ASTL stock opened at $5.76 on Friday. Algoma Steel Group Inc. has a twelve month low of $4.17 and a twelve month high of $12.14. The stock's fifty day simple moving average is $5.60 and its 200 day simple moving average is $8.16. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42. The firm has a market capitalization 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 released its quarterly earnings data on Tuesday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $359.30 million during the quarter, compared to the consensus estimate of $327.56 million. As a group, sell-side analysts predict 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 will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.47%. Algoma Steel Group's dividend payout ratio (DPR) is presently -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.

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