Algoma Steel Group Inc. (NASDAQ:ASTL) Stake Lowered by Thomist Capital Management LP

Thomist Capital Management LP lessened its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 3.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,497,531 shares of the company's stock after selling 137,580 shares during the quarter. Algoma Steel Group comprises approximately 8.2% of Thomist Capital Management LP's holdings, making the stock its 3rd largest position. Thomist Capital Management LP owned approximately 3.33% of Algoma Steel Group worth $33,821,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Scheer Rowlett & Associates Investment Management Ltd. lifted its stake in shares of Algoma Steel Group by 1.0% in 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 acquiring an additional 22,049 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in 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 worth $12,884,000 after purchasing an additional 966,976 shares in the last quarter. J. Goldman & Co LP lifted its position 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 worth $11,994,000 after purchasing an additional 17,802 shares during the period. Yaupon Capital Management LP boosted its stake in Algoma Steel Group by 21.1% during the 4th 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. Finally, Solas Capital Management LLC increased its position in shares of Algoma Steel Group by 7.1% during the 4th quarter. Solas Capital Management LLC now owns 1,060,646 shares of the company's stock valued at $10,373,000 after purchasing an additional 70,000 shares during the period. Institutional investors and hedge funds own 72.00% of the company's stock.

Algoma Steel Group Price Performance

ASTL stock traded down $0.12 on Wednesday, hitting $5.47. 389,142 shares of the company's stock traded hands, compared to its average volume of 732,428. Algoma Steel Group Inc. has a 1-year low of $4.17 and a 1-year high of $12.14. The stock has a fifty day moving average of $5.42 and a 200-day moving average of $7.80. The stock has a market cap of $573.99 million, a price-to-earnings ratio of -4.31 and a beta of 1.58. The company has a current ratio of 3.31, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42.

Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.69) by $0.36. The business had revenue of $359.30 million for the quarter, compared to analyst estimates of $327.56 million. Algoma Steel Group had a negative net margin of 6.30% and a negative return on equity of 10.63%. On average, analysts forecast that Algoma Steel Group Inc. will post -0.63 EPS for the current fiscal year.

Algoma Steel Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 13th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Tuesday, May 13th. Algoma Steel Group's dividend payout ratio is currently -12.99%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Royal Bank of Canada upgraded Algoma Steel Group to a "hold" rating in a report on Tuesday, April 22nd. Stifel Canada cut shares of Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th.

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.