Algoma Steel Group Inc. $ASTL Stake Increased by Aegis Financial Corp

Aegis Financial Corp boosted its stake in Algoma Steel Group Inc. (NASDAQ:ASTL) by 22.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,786,122 shares of the company’s stock after purchasing an additional 326,219 shares during the quarter. Algoma Steel Group makes up 7.2% of Aegis Financial Corp’s investment portfolio, making the stock its 6th largest position. Aegis Financial Corp owned about 1.70% of Algoma Steel Group worth $12,306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Algoma Steel Group by 21.6% in the second quarter. Campbell & CO Investment Adviser LLC now owns 24,435 shares of the company’s stock worth $168,000 after buying an additional 4,346 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Algoma Steel Group during the 2nd quarter worth approximately $10,874,000. Scheer Rowlett & Associates Investment Management Ltd. lifted its stake in Algoma Steel Group by 34.0% in the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,898,205 shares of the company’s stock worth $26,983,000 after purchasing an additional 989,633 shares in the last quarter. MMCAP International Inc. SPC lifted its stake in Algoma Steel Group by 8.7% in the 2nd quarter. MMCAP International Inc. SPC now owns 7,218,218 shares of the company’s stock worth $49,734,000 after purchasing an additional 576,801 shares in the last quarter. Finally, Terril Brothers Inc. boosted its holdings in Algoma Steel Group by 39.4% in the 2nd quarter. Terril Brothers Inc. now owns 49,500 shares of the company’s stock valued at $341,000 after purchasing an additional 14,000 shares during the period. 72.00% of the stock is currently owned by institutional investors.

Algoma Steel Group Stock Down 4.3%

Shares of Algoma Steel Group stock opened at $3.58 on Friday. The company has a current ratio of 2.29, a quick ratio of 0.76 and a debt-to-equity ratio of 0.72. Algoma Steel Group Inc. has a 12-month low of $3.02 and a 12-month high of $11.69. The company has a market cap of $375.65 million, a P/E ratio of -0.75 and a beta of 1.56. The company’s fifty day simple moving average is $4.08 and its two-hundred day simple moving average is $5.19.

Algoma Steel Group (NASDAQ:ASTL) last posted its earnings results on Wednesday, November 5th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.66) by $0.78. Algoma Steel Group had a negative net margin of 31.27% and a negative return on equity of 15.13%. The firm had revenue of $380.44 million during the quarter, compared to analysts’ expectations of $366.98 million. Research analysts anticipate that Algoma Steel Group Inc. will post -0.63 EPS for the current year.

Analysts Set New Price Targets

ASTL has been the topic of several research analyst reports. Wall Street Zen cut shares of Algoma Steel Group from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Algoma Steel Group in a research report on Thursday. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Algoma Steel Group has a consensus rating of “Reduce”.

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.