Public Employees Retirement System of Ohio Makes New Investment in Algoma Steel Group Inc. (NASDAQ:ASTL)

Public Employees Retirement System of Ohio purchased a new position in Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 47,197 shares of the company's stock, valued at approximately $462,000.

Other large investors also recently modified their holdings of the company. Aquatic Capital Management LLC bought a new position in Algoma Steel Group in the fourth quarter valued at about $64,000. Squarepoint Ops LLC purchased a new stake in shares of Algoma Steel Group during the 4th quarter valued at about $114,000. Two Sigma Advisers LP bought a new position in shares of Algoma Steel Group in the 4th quarter worth approximately $117,000. Corient Private Wealth LLC bought a new position in shares of Algoma Steel Group in the 4th quarter worth approximately $147,000. Finally, Jump Financial LLC purchased a new position in shares of Algoma Steel Group in the fourth quarter worth approximately $204,000. Institutional investors own 72.00% of the company's stock.

Algoma Steel Group Stock Performance

Shares of NASDAQ ASTL traded up $0.58 during trading on Friday, hitting $5.88. The company had a trading volume of 1,681,126 shares, compared to its average volume of 757,902. Algoma Steel Group Inc. has a 12 month low of $4.17 and a 12 month high of $12.14. 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 has a market capitalization of $617.01 million, a P/E ratio of -4.63 and a beta of 1.56. The stock has a 50 day simple moving average of $5.22 and a 200 day simple moving average of $7.34.

Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported ($0.33) earnings per share (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 company had revenue of $359.30 million during the quarter, compared to analyst estimates of $327.56 million. As a group, analysts anticipate that Algoma Steel Group Inc. will post -0.63 earnings per share for the current year.

Algoma Steel Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Tuesday, May 13th. Algoma Steel Group's dividend payout ratio (DPR) is currently -12.99%.

Wall Street Analyst Weigh In

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

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.