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:ASTLFree Report) 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.

Read Our Latest Stock Report on ASTL

About Algoma Steel Group

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Algoma Steel Group (NASDAQ:ASTL)

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