Dimensional Fund Advisors LP increased its position in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 62.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 440,360 shares of the company's stock after buying an additional 169,765 shares during the period. Dimensional Fund Advisors LP owned 0.42% of Algoma Steel Group worth $4,306,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of ASTL. Barclays PLC boosted its holdings in shares of Algoma Steel Group by 147.1% during the 3rd quarter. Barclays PLC now owns 25,711 shares of the company's stock worth $263,000 after buying an additional 15,305 shares during the period. JPMorgan Chase & Co. increased its position in Algoma Steel Group by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 357,367 shares of the company's stock worth $3,656,000 after buying an additional 49,642 shares during the period. Assenagon Asset Management S.A. bought a new position in Algoma Steel Group in the 4th quarter worth approximately $1,248,000. Van ECK Associates Corp increased its position in Algoma Steel Group by 4.0% in the 4th quarter. Van ECK Associates Corp now owns 103,555 shares of the company's stock worth $1,013,000 after buying an additional 3,944 shares during the period. Finally, CIBC Asset Management Inc increased its position in Algoma Steel Group by 16.8% in the 4th quarter. CIBC Asset Management Inc now owns 118,602 shares of the company's stock worth $1,159,000 after buying an additional 17,035 shares during the period. 72.00% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
ASTL has been the subject of a number of research reports. Royal Bank of Canada raised shares of 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 report on Thursday, April 17th.
Read Our Latest Stock Analysis on Algoma Steel Group
Algoma Steel Group Price Performance
Algoma Steel Group stock remained flat at $5.75 during mid-day trading on Friday. 549,630 shares of the company's stock were exchanged, compared to its average volume of 733,097. The company has a current ratio of 3.31, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42. Algoma Steel Group Inc. has a 12-month low of $4.17 and a 12-month high of $12.14. The stock's 50 day simple moving average is $5.43 and its 200 day simple moving average is $7.85. The stock has a market cap of $603.37 million, a price-to-earnings ratio of -4.53 and a beta of 1.58.
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 for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $327.56 million. On average, analysts predict that Algoma Steel Group Inc. will post -0.63 earnings per share for the current fiscal year.
Algoma Steel Group Announces Dividend
The firm also recently disclosed 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Tuesday, May 13th. Algoma Steel Group's payout ratio is -12.99%.
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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