Thomist Capital Management LP trimmed its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,497,531 shares of the company's stock after selling 137,580 shares during the quarter. Algoma Steel Group comprises 8.2% of Thomist Capital Management LP's holdings, making the stock its 3rd biggest position. Thomist Capital Management LP owned about 3.33% of Algoma Steel Group worth $33,821,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. bought a new position in Algoma Steel Group during the fourth quarter valued at about $1,248,000. JPMorgan Chase & Co. boosted its position in shares of Algoma Steel Group by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 357,367 shares of the company's stock valued at $3,656,000 after purchasing an additional 49,642 shares in the last quarter. Hartree Partners LP raised its holdings in shares of Algoma Steel Group by 44.4% in the 4th quarter. Hartree Partners LP now owns 152,751 shares of the company's stock worth $1,494,000 after purchasing an additional 46,984 shares in the last quarter. Renaissance Technologies LLC lifted its stake in 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 during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted 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 buying an additional 966,976 shares in the last quarter. 72.00% of the stock is currently owned by institutional investors.
Algoma Steel Group Stock Down 0.1%
ASTL stock traded down $0.01 during trading hours on Friday, hitting $5.37. The company's stock had a trading volume of 92,587 shares, compared to its average volume of 731,560. The company has a market capitalization of $562.97 million, a PE ratio of -4.22 and a beta of 1.58. The stock has a 50 day moving average price of $5.37 and a two-hundred day moving average price of $7.74. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42. 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 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. Algoma Steel Group had a negative net margin of 6.30% and a negative return on equity of 10.63%. The company had revenue of $359.30 million during the quarter, compared to analysts' expectations of $327.56 million. On average, equities research analysts expect 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 announced 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 dividend yield of 3.73%. The ex-dividend date of this dividend is Tuesday, May 13th. Algoma Steel Group's payout ratio is presently -12.99%.
Analysts Set New Price Targets
ASTL has been the topic of several research reports. Royal Bank of Canada raised Algoma Steel Group to a "hold" rating in a report on Tuesday, April 22nd. Stifel Canada downgraded Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th.
Read Our Latest Analysis on Algoma Steel Group
About Algoma Steel Group
(
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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