CenterBook Partners LP decreased its stake in Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 35.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 262,166 shares of the company's stock after selling 141,703 shares during the quarter. CenterBook Partners LP owned approximately 0.25% of Algoma Steel Group worth $1,421,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of ASTL. Squarepoint Ops LLC purchased a new position in Algoma Steel Group during the fourth quarter worth approximately $114,000. Two Sigma Investments LP lifted its position in shares of Algoma Steel Group by 41.8% in the fourth quarter. Two Sigma Investments LP now owns 36,600 shares of the company's stock valued at $358,000 after acquiring an additional 10,781 shares in the last quarter. Hartree Partners LP lifted its position in shares of Algoma Steel Group by 44.4% in the fourth quarter. Hartree Partners LP now owns 152,751 shares of the company's stock valued at $1,494,000 after acquiring an additional 46,984 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Algoma Steel Group by 11.2% in the fourth quarter. Renaissance Technologies LLC now owns 89,374 shares of the company's stock valued at $874,000 after acquiring an additional 8,974 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Algoma Steel Group by 276.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,317,083 shares of the company's stock valued at $12,884,000 after acquiring an additional 966,976 shares in the last quarter. Hedge funds and other institutional investors own 72.00% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on ASTL. Stifel Canada downgraded Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Royal Bank Of Canada raised Algoma Steel Group to a "hold" rating in a report on Tuesday, April 22nd. Finally, BMO Capital Markets cut Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a report on Monday, June 2nd.
View Our Latest Research Report on Algoma Steel Group
Algoma Steel Group Trading Up 1.7%
ASTL stock traded up $0.12 during midday trading on Friday, hitting $7.02. 857,879 shares of the company's stock were exchanged, compared to its average volume of 822,090. The business has a 50-day simple moving average of $6.24 and a two-hundred day simple moving average of $6.60. 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 released its quarterly earnings results on Tuesday, April 29th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.36. Algoma Steel Group had a negative return on equity of 12.98% and a negative net margin of 8.15%. The business had revenue of $359.30 million during the quarter, compared to analyst estimates of $327.56 million. On average, 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 business also recently announced 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 dividend payout ratio (DPR) is presently -12.99%.
Algoma Steel Group Profile
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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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