Balyasny Asset Management L.P. Sells 30,646 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

Balyasny Asset Management L.P. lowered its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 63.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,999 shares of the company’s stock after selling 30,646 shares during the period. Balyasny Asset Management L.P.’s holdings in Algoma Steel Group were worth $176,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aquatic Capital Management LLC bought a new position in shares of Algoma Steel Group during the 4th quarter worth about $64,000. Corient Private Wealth LLC bought a new position in Algoma Steel Group during the fourth quarter worth about $147,000. Jump Financial LLC acquired a new stake in Algoma Steel Group during the fourth quarter valued at approximately $204,000. Wells Fargo & Company MN acquired a new stake in Algoma Steel Group during the fourth quarter valued at approximately $210,000. Finally, Terril Brothers Inc. bought a new stake in shares of Algoma Steel Group in the 4th quarter valued at approximately $214,000. Institutional investors own 72.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ASTL shares. Royal Bank of Canada upgraded Algoma Steel Group to a “hold” rating in a research report on Tuesday, April 22nd. Stifel Canada cut Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th.

Algoma Steel Group Stock Performance

Shares of ASTL stock opened at $5.75 on Monday. The company has a market capitalization of $603.37 million, a P/E ratio of -4.53 and a beta of 1.58. Algoma Steel Group Inc. has a 12-month low of $4.17 and a 12-month high of $12.14. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average price of $5.43 and a 200 day moving average price of $7.85.

Algoma Steel Group (NASDAQ:ASTL) last posted its earnings results on Tuesday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.36. The company had revenue of $359.30 million during the quarter, compared to analysts’ expectations of $327.56 million. Algoma Steel Group had a negative net margin of 6.30% and a negative return on equity of 10.63%. Research analysts forecast that Algoma Steel Group Inc. will post -0.63 earnings per share for the current fiscal year.

Algoma Steel Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Tuesday, May 13th. Algoma Steel Group’s dividend payout ratio is currently -12.99%.

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.