Algoma Steel Group (NASDAQ:ASTL) Trading 3.1% Higher

Algoma Steel Group Inc. (NASDAQ:ASTL)’s stock price was up 3.1% on Wednesday . The stock traded as high as $7.89 and last traded at $7.89. Approximately 11,052 shares were traded during trading, a decline of 98% from the average daily volume of 628,575 shares. The stock had previously closed at $7.65.

Algoma Steel Group Stock Performance

The company has a market cap of $815.10 million, a PE ratio of 76.50 and a beta of 1.52. The company has a current ratio of 2.88, a quick ratio of 0.98 and a debt-to-equity ratio of 0.09. The firm’s 50-day simple moving average is $8.13 and its two-hundred day simple moving average is $8.14.

Algoma Steel Group (NASDAQ:ASTL) last released its quarterly earnings data on Tuesday, February 6th. The company reported ($0.57) EPS for the quarter. The business had revenue of $452.07 million during the quarter, compared to analysts’ expectations of $453.22 million. Algoma Steel Group had a net margin of 2.05% and a return on equity of 3.84%. As a group, research analysts anticipate that Algoma Steel Group Inc. will post 0.78 earnings per share for the current fiscal year.

Algoma Steel Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 29th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Wednesday, February 28th. Algoma Steel Group’s dividend payout ratio (DPR) is currently 200.00%.

Institutional Trading of Algoma Steel Group

Large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its stake in shares of Algoma Steel Group by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 71,487 shares of the company’s stock valued at $719,000 after purchasing an additional 1,272 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Algoma Steel Group by 91.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,619 shares of the company’s stock valued at $25,000 after purchasing an additional 1,729 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Algoma Steel Group by 2.3% in the 3rd quarter. CIBC Asset Management Inc now owns 87,585 shares of the company’s stock valued at $596,000 after purchasing an additional 1,939 shares during the period. Gamco Investors INC. ET AL lifted its stake in shares of Algoma Steel Group by 3.2% in the 3rd quarter. Gamco Investors INC. ET AL now owns 64,325 shares of the company’s stock valued at $437,000 after purchasing an additional 2,000 shares during the period. Finally, Barclays PLC lifted its stake in shares of Algoma Steel Group by 11.6% in the 4th quarter. Barclays PLC now owns 25,939 shares of the company’s stock valued at $260,000 after purchasing an additional 2,704 shares during the period. 72.00% of the stock is owned by hedge funds and other institutional investors.

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.