Algoma Steel Group Inc. (NASDAQ:ASTL) Shares Acquired by Yaupon Capital Management LP

Yaupon Capital Management LP increased its position in Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 21.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,084,601 shares of the company's stock after purchasing an additional 188,695 shares during the period. Yaupon Capital Management LP owned 1.03% of Algoma Steel Group worth $10,607,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ASTL. Arrowstreet Capital Limited Partnership increased its position 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 during the period. Walleye Capital LLC increased its holdings in shares of Algoma Steel Group by 314.3% in the 4th quarter. Walleye Capital LLC now owns 224,760 shares of the company's stock valued at $2,198,000 after acquiring an additional 170,513 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Algoma Steel Group by 62.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 440,360 shares of the company's stock valued at $4,306,000 after acquiring an additional 169,765 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Algoma Steel Group in the 4th quarter valued at $1,248,000. Finally, CenterBook Partners LP boosted its stake in Algoma Steel Group by 35.1% during the 4th quarter. CenterBook Partners LP now owns 403,869 shares of the company's stock worth $3,950,000 after purchasing an additional 104,981 shares during the period. 72.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Algoma Steel Group Stock Performance

Shares of Algoma Steel Group stock traded down $0.12 during trading hours on Friday, hitting $5.13. 1,122,012 shares of the company were exchanged, compared to its average volume of 695,091. The company has a current ratio of 3.31, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average of $5.82 and a 200-day moving average of $8.31. Algoma Steel Group Inc. has a 1 year low of $4.17 and a 1 year high of $12.14. The stock has a market capitalization of $538.31 million, a price-to-earnings ratio of -4.04 and a beta of 1.57.

Algoma Steel Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Friday, March 21st were given a dividend of $0.05 per share. The ex-dividend date was Friday, March 21st. This represents a $0.20 dividend on an annualized basis and a yield of 3.90%. Algoma Steel Group's payout ratio is currently -17.54%.

About Algoma Steel Group

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.