LPL Financial LLC Has $753,000 Holdings in Algoma Steel Group Inc. (NASDAQ:ASTL)

LPL Financial LLC lessened its stake in Algoma Steel Group Inc. (NASDAQ:ASTL) by 27.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,065 shares of the company’s stock after selling 39,320 shares during the quarter. LPL Financial LLC’s holdings in Algoma Steel Group were worth $753,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ASTL. UBS Group AG acquired a new position in shares of Algoma Steel Group in the third quarter valued at approximately $34,000. Deutsche Bank AG acquired a new position in shares of Algoma Steel Group in the fourth quarter valued at approximately $42,000. Alliancebernstein L.P. acquired a new position in shares of Algoma Steel Group in the fourth quarter valued at approximately $77,000. Barclays PLC lifted its position in shares of Algoma Steel Group by 35.4% in the fourth quarter. Barclays PLC now owns 12,237 shares of the company’s stock worth $78,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Olympiad Research LP bought a new stake in shares of Algoma Steel Group in the second quarter worth $89,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

Algoma Steel Group Stock Performance

Shares of ASTL stock opened at $7.84 on Tuesday. The company’s fifty day simple moving average is $6.93 and its 200-day simple moving average is $7.17. The company has a quick ratio of 1.37, a current ratio of 3.23 and a debt-to-equity ratio of 0.08. The firm has a market cap of $814.09 million, a PE ratio of 39.20 and a beta of 1.45. Algoma Steel Group Inc. has a 12 month low of $5.64 and a 12 month high of $9.20.

Algoma Steel Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be given a $0.086 dividend. This represents a $0.34 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date is Wednesday, November 29th. This is a positive change from Algoma Steel Group’s previous quarterly dividend of $0.05. Algoma Steel Group’s payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

Separately, Stifel Canada reissued a “buy” rating on shares of Algoma Steel Group in a research report on Sunday, September 17th.

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.