120,000 Shares in Algoma Steel Group Inc. (NASDAQ:ASTL) Purchased by Prescott Group Capital Management L.L.C.

Key Points

• Prescott Group Capital Management L.L.C. has invested $650,000 in Algoma Steel Group Inc. by acquiring 120,000 shares, representing approximately 0.11% of the company.
• Institutional investors and hedge funds own 72.00% of Algoma Steel Group's stock, with notable recent increases in holdings by Woodline Partners LP and Arrowstreet Capital Limited Partnership.
• Algoma Steel Group recently announced a quarterly dividend of $0.05 per share, resulting in an annualized yield of 3.33%, although its dividend payout ratio is currently -12.99%.

Prescott Group Capital Management L.L.C. bought a new position in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 120,000 shares of the company's stock, valued at approximately $650,000. Prescott Group Capital Management L.L.C. owned 0.11% of Algoma Steel Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Gamco Investors INC. ET AL boosted its stake in Algoma Steel Group by 4.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 32,675 shares of the company's stock worth $320,000 after buying an additional 1,350 shares in the last quarter. Geode Capital Management LLC boosted its stake in Algoma Steel Group by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 152,846 shares of the company's stock worth $1,499,000 after buying an additional 1,985 shares in the last quarter. Legal & General Group Plc boosted its stake in Algoma Steel Group by 4.8% during the fourth quarter. Legal & General Group Plc now owns 80,745 shares of the company's stock worth $790,000 after buying an additional 3,666 shares in the last quarter. American Century Companies Inc. boosted its stake in Algoma Steel Group by 3.2% during the fourth quarter. American Century Companies Inc. now owns 172,428 shares of the company's stock worth $1,689,000 after buying an additional 5,296 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in Algoma Steel Group during the fourth quarter worth $64,000. Institutional investors own 72.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Royal Bank Of Canada upgraded shares of Algoma Steel Group to a "hold" rating in a research note on Tuesday, April 22nd. 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. 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 Price Performance

Shares of NASDAQ:ASTL traded down $0.22 on Tuesday, hitting $5.91. The stock had a trading volume of 304,511 shares, compared to its average volume of 992,175. 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 firm's 50 day moving average price is $6.33 and its 200-day moving average price is $6.45. The company has a market capitalization of $619.61 million, a price-to-earnings ratio of -3.81 and a beta of 1.65.

Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.36. The company had revenue of $359.30 million for 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, equities research analysts predict that Algoma Steel Group Inc. will post -0.63 earnings per share for the current year.

Algoma Steel Group 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.