Algoma Steel Group Inc. (NASDAQ:ASTL) Shares Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. increased its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 24.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,463,761 shares of the company's stock after purchasing an additional 288,861 shares during the period. Intact Investment Management Inc. owned 1.39% of Algoma Steel Group worth $7,945,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Squarepoint Ops LLC bought a new position in shares of Algoma Steel Group during the fourth quarter valued at approximately $114,000. Two Sigma Investments LP boosted its stake in shares of Algoma Steel Group by 41.8% during the fourth quarter. Two Sigma Investments LP now owns 36,600 shares of the company's stock valued at $358,000 after purchasing an additional 10,781 shares in the last quarter. Hartree Partners LP boosted its stake in shares of Algoma Steel Group by 44.4% during the fourth quarter. Hartree Partners LP now owns 152,751 shares of the company's stock valued at $1,494,000 after purchasing an additional 46,984 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Algoma Steel Group by 11.2% during the fourth quarter. Renaissance Technologies LLC now owns 89,374 shares of the company's stock valued at $874,000 after purchasing an additional 8,974 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Algoma Steel Group by 276.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,317,083 shares of the company's stock valued at $12,884,000 after purchasing an additional 966,976 shares in the last quarter. 72.00% of the stock is currently owned by institutional investors.

Algoma Steel Group Stock Up 2.1%

ASTL traded up $0.14 during trading on Friday, hitting $6.80. The stock had a trading volume of 2,067,494 shares, compared to its average volume of 799,063. The company has a market capitalization of $713.52 million, a PE ratio of -4.42 and a beta of 1.56. Algoma Steel Group Inc. has a twelve month low of $4.17 and a twelve month high of $12.14. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.47 and a current ratio of 3.10. The stock has a 50 day simple moving average of $5.56 and a two-hundred day simple moving average of $6.94.

Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.36. The company had revenue of $359.30 million during the quarter, compared to the consensus estimate of $327.56 million. Algoma Steel Group had a negative net margin of 8.15% and a negative return on equity of 12.98%. On average, research analysts predict 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. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.20 annualized dividend and a dividend yield of 2.94%. Algoma Steel Group's payout ratio is currently -12.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ASTL shares. Stifel Canada downgraded shares of Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Royal Bank Of Canada upgraded shares of Algoma Steel Group to a "hold" rating in a research note on Tuesday, April 22nd. Finally, BMO Capital Markets downgraded shares of Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 2nd.

Algoma Steel Group Company 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.