Algoma Steel Group Inc. (NASDAQ:ASTL) Shares Bought by Woodline Partners LP

Woodline Partners LP grew its position in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 59.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,844,439 shares of the company's stock after purchasing an additional 1,057,517 shares during the period. Woodline Partners LP owned approximately 2.71% of Algoma Steel Group worth $27,819,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Gamco Investors INC. ET AL lifted its stake in Algoma Steel Group by 4.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 32,675 shares of the company's stock worth $320,000 after acquiring an additional 1,350 shares in the last quarter. Geode Capital Management LLC increased 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 purchasing an additional 1,985 shares during the period. Legal & General Group Plc lifted its position in shares of 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 purchasing an additional 3,666 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Algoma Steel Group by 4.0% during the fourth quarter. Van ECK Associates Corp now owns 103,555 shares of the company's stock worth $1,013,000 after purchasing an additional 3,944 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Algoma Steel Group by 3.2% in the fourth quarter. American Century Companies Inc. now owns 172,428 shares of the company's stock valued at $1,689,000 after purchasing an additional 5,296 shares during the period. 72.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ASTL shares. Royal Bank of Canada raised shares of Algoma Steel Group to a "hold" rating in a research note on Tuesday, April 22nd. Stifel Canada cut Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th.

Algoma Steel Group Stock Up 0.6%

Shares of ASTL stock traded up $0.03 during trading hours on Monday, reaching $5.40. 481,438 shares of the stock were exchanged, compared to its average volume of 736,016. The business's fifty day moving average is $5.36 and its two-hundred day moving average is $7.65. The firm has a market capitalization of $566.64 million, a P/E ratio of -4.25 and a beta of 1.58. Algoma Steel Group Inc. has a 12-month low of $4.17 and a 12-month high of $12.14. 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 (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 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 for the quarter, compared to the consensus estimate of $327.56 million. As a group, research analysts expect that Algoma Steel Group Inc. will post -0.63 EPS for the current fiscal year.

Algoma Steel Group Announces Dividend

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

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.