XTX Topco Ltd Acquires New Position in Algoma Steel Group Inc. (NASDAQ:ASTL)

XTX Topco Ltd bought a new position in Algoma Steel Group Inc. (NASDAQ:ASTL) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 33,357 shares of the company’s stock, valued at approximately $181,000.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Algoma Steel Group by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 152,846 shares of the company’s stock worth $1,499,000 after acquiring an additional 1,985 shares in the last quarter. Wells Fargo & Company MN purchased a new stake in shares of Algoma Steel Group during the 4th quarter worth about $210,000. Bank of Montreal Can lifted its holdings in shares of Algoma Steel Group by 4.6% during the 4th quarter. Bank of Montreal Can now owns 329,461 shares of the company’s stock valued at $3,223,000 after buying an additional 14,379 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Algoma Steel Group by 4.8% in the 4th quarter. Legal & General Group Plc now owns 80,745 shares of the company’s stock valued at $790,000 after buying an additional 3,666 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Algoma Steel Group by 11.2% in the fourth quarter. Renaissance Technologies LLC now owns 89,374 shares of the company’s stock worth $874,000 after buying an additional 8,974 shares during the last quarter. Institutional investors and hedge funds own 72.00% of the company’s stock.

Wall Street Analysts Forecast Growth

ASTL has been the subject of a number of analyst reports. Stifel Canada cut shares of Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 17th. Wall Street Zen downgraded shares of Algoma Steel Group from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Royal Bank Of Canada upgraded shares of Algoma Steel Group to a “hold” rating in a report on Tuesday, April 22nd. Finally, BMO Capital Markets downgraded shares of Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 2nd.

Algoma Steel Group Stock Up 2.2%

Shares of ASTL stock opened at $4.70 on Thursday. The stock’s 50 day simple moving average is $6.24 and its 200 day simple moving average is $6.19. Algoma Steel Group Inc. has a twelve month low of $4.17 and a twelve month high of $12.14. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.98 and a current ratio of 2.46. The company has a market capitalization of $493.17 million, a price-to-earnings ratio of -2.11 and a beta of 1.62.

Algoma Steel Group (NASDAQ:ASTL) last released its quarterly earnings results on Tuesday, July 29th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.29). Algoma Steel Group had a negative net margin of 13.51% and a negative return on equity of 22.24%. The firm had revenue of $433.14 million during the quarter, compared to the consensus estimate of $577.67 million. As a group, research analysts predict that Algoma Steel Group Inc. will post -0.63 EPS for the current year.

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.