D. E. Shaw & Co. Inc. Acquires Shares of 167,938 Algoma Steel Group Inc. (NASDAQ:ASTL)

D. E. Shaw & Co. Inc. bought a new position in Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 167,938 shares of the company's stock, valued at approximately $1,643,000. D. E. Shaw & Co. Inc. owned 0.16% of Algoma Steel Group at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ASTL. Aquatic Capital Management LLC purchased a new stake in Algoma Steel Group during the fourth quarter valued at about $64,000. Corient Private Wealth LLC acquired a new position in shares of Algoma Steel Group in the 4th quarter valued at about $147,000. Jump Financial LLC purchased a new stake in shares of Algoma Steel Group during the 4th quarter worth about $204,000. Wells Fargo & Company MN purchased a new stake in shares of Algoma Steel Group during the 4th quarter worth about $210,000. Finally, Terril Brothers Inc. acquired a new stake in Algoma Steel Group during the 4th quarter worth approximately $214,000. 72.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Algoma Steel Group Stock Up 2.0%

Shares of ASTL traded up $0.11 during midday trading on Tuesday, reaching $5.51. 335,430 shares of the company were exchanged, compared to its average volume of 734,414. The stock has a 50-day moving average price of $5.32 and a 200-day moving average price of $7.60. The company has a market cap of $578.19 million, a price-to-earnings ratio of -4.34 and a beta of 1.58. Algoma Steel Group Inc. has a 1-year low of $4.17 and a 1-year high of $12.14. 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 (NASDAQ:ASTL - Get Free Report) last posted its earnings results 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. The business had revenue of $359.30 million during the quarter, compared to analyst estimates of $327.56 million. Algoma Steel Group had a negative return on equity of 10.63% and a negative net margin of 6.30%. Research analysts expect that Algoma Steel Group Inc. will post -0.63 earnings per share for the current year.

Algoma Steel Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.63%. Algoma Steel Group's dividend payout ratio is currently -12.99%.

Algoma Steel Group 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.