Algoma Steel Group Inc. (NASDAQ:ASTL) is Towle & Co.'s 8th Largest Position

Towle & Co. lessened its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,850,198 shares of the company's stock after selling 98,463 shares during the quarter. Algoma Steel Group comprises 3.1% of Towle & Co.'s investment portfolio, making the stock its 8th biggest holding. Towle & Co. owned about 1.76% of Algoma Steel Group worth $18,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in ASTL. Aquatic Capital Management LLC bought a new position in Algoma Steel Group in the 4th quarter valued at about $64,000. Two Sigma Advisers LP bought a new position in Algoma Steel Group in the 4th quarter valued at about $117,000. Corient Private Wealth LLC bought a new position in Algoma Steel Group in the 4th quarter valued at about $147,000. Jump Financial LLC bought a new position in Algoma Steel Group in the 4th quarter valued at about $204,000. Finally, Wells Fargo & Company MN bought a new position in Algoma Steel Group in the 4th quarter valued at about $210,000. Institutional investors own 72.00% of the company's stock.

Algoma Steel Group Stock Performance

Shares of Algoma Steel Group stock traded up $0.03 during mid-day trading on Friday, hitting $5.40. 481,438 shares of the stock were exchanged, compared to its average volume of 733,798. Algoma Steel Group Inc. has a 12 month low of $4.17 and a 12 month high of $12.14. The company has a 50-day simple moving average of $5.36 and a 200 day simple moving average of $7.71. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 3.31. The company has a market capitalization of $566.64 million, a P/E ratio of -4.25 and a beta of 1.58.

Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $327.56 million. Sell-side analysts anticipate that Algoma Steel Group Inc. will post -0.63 earnings per share for the current fiscal year.

Algoma Steel Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.20 annualized dividend and a dividend yield of 3.70%. Algoma Steel Group's payout ratio is currently -12.99%.

Analyst Ratings Changes

Several brokerages recently weighed in on ASTL. 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. Royal Bank of Canada raised shares of Algoma Steel Group to a "hold" rating in a research report on Tuesday, April 22nd.

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.