Two Sigma Investments LP Has $358,000 Stake in Algoma Steel Group Inc. (NASDAQ:ASTL)

Two Sigma Investments LP lifted its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 41.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,600 shares of the company’s stock after purchasing an additional 10,781 shares during the period. Two Sigma Investments LP’s holdings in Algoma Steel Group were worth $358,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Aquatic Capital Management LLC acquired a new position in shares of Algoma Steel Group during the fourth quarter worth approximately $64,000. Corient Private Wealth LLC bought a new stake in shares of Algoma Steel Group during the fourth quarter worth approximately $147,000. Jump Financial LLC bought a new stake in shares of Algoma Steel Group during the fourth quarter worth approximately $204,000. Wells Fargo & Company MN bought a new stake in shares of Algoma Steel Group during the fourth quarter worth approximately $210,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Algoma Steel Group during the fourth quarter worth approximately $212,000. 72.00% of the stock is currently owned by institutional investors and hedge funds.

Algoma Steel Group Stock Up 3.9%

Shares of NASDAQ:ASTL opened at $6.09 on Wednesday. Algoma Steel Group Inc. has a 52 week low of $4.17 and a 52 week high of $12.14. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 3.31. The company has a market capitalization of $639.05 million, a PE ratio of -4.80 and a beta of 1.56. The company has a 50 day moving average price of $5.26 and a two-hundred day moving average price of $7.20.

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

Algoma Steel Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Tuesday, May 13th. Algoma Steel Group’s payout ratio is presently -12.99%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ASTL shares. BMO Capital Markets downgraded shares of Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 2nd. Royal Bank of Canada raised shares of Algoma Steel Group to a “hold” rating in a research note on Tuesday, April 22nd. Finally, Stifel Canada downgraded shares of Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 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.