Mackenzie Financial Corp Purchases Shares of 199,774 Algoma Steel Group Inc. (NASDAQ:ASTL)

Mackenzie Financial Corp bought a new position in Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 199,774 shares of the company's stock, valued at approximately $1,955,000. Mackenzie Financial Corp owned about 0.19% of Algoma Steel Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Woodline Partners LP lifted its stake in shares of Algoma Steel Group by 59.2% in the 4th quarter. Woodline Partners LP now owns 2,844,439 shares of the company's stock worth $27,819,000 after purchasing an additional 1,057,517 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. raised its position in Algoma Steel Group by 1.0% in the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 2,179,362 shares of the company's stock worth $21,320,000 after acquiring an additional 22,049 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Algoma Steel Group by 276.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,317,083 shares of the company's stock worth $12,884,000 after acquiring an additional 966,976 shares during the last quarter. J. Goldman & Co LP grew its position in shares of Algoma Steel Group by 1.5% during the 4th quarter. J. Goldman & Co LP now owns 1,226,375 shares of the company's stock valued at $11,994,000 after acquiring an additional 17,802 shares during the period. Finally, Yaupon Capital Management LP increased its stake in shares of Algoma Steel Group by 21.1% in the 4th quarter. Yaupon Capital Management LP now owns 1,084,601 shares of the company's stock worth $10,607,000 after purchasing an additional 188,695 shares in the last quarter. 72.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ASTL. BMO Capital Markets downgraded Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a research report on Monday. Royal Bank of Canada raised Algoma Steel Group to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Stifel Canada lowered shares of Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th.

Algoma Steel Group Price Performance

Shares of ASTL stock traded up $0.20 on Wednesday, hitting $5.31. 968,048 shares of the stock traded hands, compared to its average volume of 749,833. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.31 and a quick ratio of 1.66. Algoma Steel Group Inc. has a 52 week low of $4.17 and a 52 week high of $12.14. The firm has a 50 day simple moving average of $5.23 and a two-hundred day simple moving average of $7.38. The firm has a market cap of $557.20 million, a price-to-earnings ratio of -4.18 and a beta of 1.58.

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 return on equity of 10.63% and a negative net margin of 6.30%. The business had revenue of $359.30 million for the quarter, compared to the consensus estimate of $327.56 million. As a group, equities research analysts predict that Algoma Steel Group Inc. will post -0.63 earnings per share for the current fiscal year.

Algoma Steel Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.20 annualized dividend and a yield of 3.77%. 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.