Algoma Steel Group Inc. (NASDAQ:ASTL) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp lifted its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 35.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 123,721 shares of the company’s stock after acquiring an additional 32,352 shares during the period. Van ECK Associates Corp’s holdings in Algoma Steel Group were worth $1,241,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC purchased a new stake in Algoma Steel Group during the 3rd quarter worth approximately $73,000. Meixler Investment Management Ltd. acquired a new stake in shares of Algoma Steel Group during the third quarter worth $83,000. McAdam LLC purchased a new stake in shares of Algoma Steel Group during the fourth quarter valued at $161,000. Aigen Investment Management LP acquired a new position in shares of Algoma Steel Group in the 3rd quarter valued at $186,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Algoma Steel Group by 47.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,329 shares of the company’s stock worth $194,000 after acquiring an additional 6,236 shares during the last quarter. Institutional investors and hedge funds own 72.00% of the company’s stock.

Algoma Steel Group Stock Up 2.2 %

Algoma Steel Group stock opened at $7.90 on Friday. The business’s 50-day simple moving average is $7.96 and its two-hundred day simple moving average is $8.26. 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 company has a market cap of $822.39 million, a PE ratio of 79.00 and a beta of 1.54. 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 issued its earnings results on Tuesday, February 6th. The company reported ($0.57) EPS for the quarter. Algoma Steel Group had a net margin of 2.05% and a return on equity of 3.84%. The firm had revenue of $452.07 million during the quarter, compared to analysts’ expectations of $453.22 million. Equities analysts anticipate that Algoma Steel Group Inc. will post 0.77 EPS for the current year.

Algoma Steel Group 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.