Algoma Steel Group Inc. (NASDAQ:ASTL) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lowered its position in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 7.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 22,975 shares of the company’s stock after selling 1,766 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Algoma Steel Group were worth $228,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ASTL. Aigen Investment Management LP purchased a new position in shares of Algoma Steel Group during the 3rd quarter worth approximately $186,000. EJF Capital LLC boosted its position in shares of Algoma Steel Group by 35.0% during the 3rd quarter. EJF Capital LLC now owns 36,458 shares of the company’s stock worth $248,000 after purchasing an additional 9,458 shares during the period. Jump Financial LLC purchased a new position in shares of Algoma Steel Group during the 3rd quarter worth approximately $455,000. Barclays PLC boosted its position in shares of Algoma Steel Group by 157.7% during the 2nd quarter. Barclays PLC now owns 23,548 shares of the company’s stock worth $168,000 after purchasing an additional 14,411 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Algoma Steel Group by 2.3% during the 3rd quarter. CIBC Asset Management Inc now owns 87,585 shares of the company’s stock worth $596,000 after purchasing an additional 1,939 shares during the period. Institutional investors and hedge funds own 72.00% of the company’s stock.

Algoma Steel Group Stock Performance

NASDAQ:ASTL opened at $7.65 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.98 and a current ratio of 2.88. The stock has a market capitalization of $796.37 million, a P/E ratio of 76.50 and a beta of 1.52. The company has a 50 day moving average price of $8.13 and a 200 day moving average price of $8.14. Algoma Steel Group Inc. has a fifty-two week low of $6.34 and a fifty-two week high of $10.25.

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

Algoma Steel Group Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 29th were given a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.20 annualized dividend and a yield of 2.61%. Algoma Steel Group’s dividend payout ratio is presently 200.00%.

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.