CenterBook Partners LP Sells 141,703 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

CenterBook Partners LP decreased its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 35.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,166 shares of the company's stock after selling 141,703 shares during the quarter. CenterBook Partners LP owned 0.25% of Algoma Steel Group worth $1,421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Aquatic Capital Management LLC bought a new position in Algoma Steel Group during the fourth quarter valued at about $64,000. Squarepoint Ops LLC acquired a new position in shares of Algoma Steel Group in the 4th quarter worth approximately $114,000. Two Sigma Advisers LP acquired a new position in Algoma Steel Group during the 4th quarter worth $117,000. Corient Private Wealth LLC acquired a new position in Algoma Steel Group during the 4th quarter worth $147,000. Finally, XTX Topco Ltd acquired a new position in Algoma Steel Group during the 1st quarter worth $181,000. Institutional investors and hedge funds own 72.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ASTL. Royal Bank Of Canada raised Algoma Steel Group to a "hold" rating in a research note on Tuesday, April 22nd. 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. Finally, BMO Capital Markets cut shares of Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 2nd.

Algoma Steel Group Stock Performance

ASTL stock traded up $0.12 during mid-day trading on Friday, hitting $7.02. 857,879 shares of the company were exchanged, compared to its average volume of 823,547. The business has a 50 day simple moving average of $6.26 and a 200-day simple moving average of $6.56. The company has a current ratio of 3.10, a quick ratio of 1.47 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $736.61 million, a PE ratio of -4.56 and a beta of 1.65. Algoma Steel Group Inc. has a 1-year low of $4.17 and a 1-year high of $12.14.

Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.36. Algoma Steel Group had a negative net margin of 8.15% and a negative return on equity of 12.98%. The business had revenue of $359.30 million during the quarter, compared to the consensus estimate of $327.56 million. On average, equities analysts forecast that Algoma Steel Group Inc. will post -0.63 earnings per share for the current year.

Algoma Steel Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Tuesday, May 13th were issued a $0.05 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a yield of 2.85%. Algoma Steel Group's payout ratio is -12.99%.

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.