Intact Investment Management Inc. lifted its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 24.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,463,761 shares of the company's stock after purchasing an additional 288,861 shares during the quarter. 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 also recently made changes to their positions in the company. Woodline Partners LP increased its stake in Algoma Steel Group by 59.2% during the 4th quarter. Woodline Partners LP now owns 2,844,439 shares of the company's stock worth $27,819,000 after acquiring an additional 1,057,517 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in shares of Algoma Steel Group by 1.0% during the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 2,179,362 shares of the company's stock worth $21,320,000 after purchasing an additional 22,049 shares in the last quarter. Arrowstreet Capital Limited Partnership increased 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 worth $12,884,000 after purchasing an additional 966,976 shares during the period. J. Goldman & Co LP raised its stake in Algoma Steel Group by 1.5% in the fourth quarter. J. Goldman & Co LP now owns 1,226,375 shares of the company's stock valued at $11,994,000 after purchasing an additional 17,802 shares in the last quarter. Finally, Yaupon Capital Management LP raised its stake in Algoma Steel Group by 21.1% in the fourth quarter. Yaupon Capital Management LP now owns 1,084,601 shares of the company's stock valued at $10,607,000 after purchasing an additional 188,695 shares in the last quarter. 72.00% of the stock is currently owned by institutional investors and hedge funds.
Algoma Steel Group Price Performance
Shares of ASTL stock traded down $0.20 on Wednesday, hitting $6.69. 725,028 shares of the company's stock were exchanged, compared to its average volume of 802,647. The company has a 50 day moving average of $5.65 and a 200 day moving average of $6.92. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.10 and a quick ratio of 1.47. Algoma Steel Group Inc. has a 12 month low of $4.17 and a 12 month high of $12.14.
Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported ($0.33) EPS for the quarter, topping analysts' consensus estimates of ($0.69) by $0.36. The firm had revenue of $359.30 million during the quarter, compared to analysts' expectations of $327.56 million. Algoma Steel Group had a negative net margin of 8.15% and a negative return on equity of 12.98%. Equities research analysts anticipate that Algoma Steel Group Inc. will post -0.63 EPS for the current fiscal year.
Algoma Steel Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Tuesday, May 13th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Tuesday, May 13th. Algoma Steel Group's dividend payout ratio (DPR) is -12.99%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on ASTL. 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 report 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 report on Monday, June 2nd.
Check Out Our Latest Stock Report on ASTL
Algoma Steel Group Company Profile
(
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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