Donald Smith & CO. Inc. Sells 2,047,952 Shares of Algoma Steel Group Inc. $ASTL

Donald Smith & CO. Inc. lessened its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 25.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,040,168 shares of the company’s stock after selling 2,047,952 shares during the quarter. Donald Smith & CO. Inc. owned about 5.76% of Algoma Steel Group worth $41,617,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ASTL. EJF Capital LLC purchased a new stake in Algoma Steel Group during the first quarter valued at approximately $60,000. Aigen Investment Management LP purchased a new stake in Algoma Steel Group in the 1st quarter worth $69,000. Campbell & CO Investment Adviser LLC increased its stake in Algoma Steel Group by 21.6% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 24,435 shares of the company’s stock worth $168,000 after acquiring an additional 4,346 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Algoma Steel Group during the 2nd quarter worth approximately $172,000. Finally, XTX Topco Ltd bought a new position in Algoma Steel Group during the first quarter valued at $181,000. 72.00% of the stock is currently owned by hedge funds and other institutional investors.

Algoma Steel Group Price Performance

Shares of Algoma Steel Group stock opened at $4.15 on Friday. The firm’s 50 day moving average price is $3.88 and its 200-day moving average price is $4.98. The company has a market cap of $435.46 million, a P/E ratio of -0.87 and a beta of 1.56. The company has a quick ratio of 0.76, a current ratio of 2.29 and a debt-to-equity ratio of 0.72. Algoma Steel Group Inc. has a 52-week low of $3.02 and a 52-week high of $10.72.

Algoma Steel Group (NASDAQ:ASTL) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.66) by $0.78. The firm had revenue of $380.44 million during the quarter, compared to analyst estimates of $366.98 million. Algoma Steel Group had a negative net margin of 31.27% and a negative return on equity of 15.13%. On average, sell-side analysts predict that Algoma Steel Group Inc. will post -0.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Algoma Steel Group in a research report on Monday, December 1st. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

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.