Shares of Algoma Steel Group Inc. (NASDAQ:ASTL – Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $8.68, but opened at $8.49. Algoma Steel Group shares last traded at $8.66, with a volume of 42,532 shares traded.
Algoma Steel Group Stock Down 3.0 %
The stock has a market cap of $895.43 million, a P/E ratio of 27.74 and a beta of 1.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 2.95. The firm’s 50-day moving average is $7.60 and its two-hundred day moving average is $8.01.
Algoma Steel Group (NASDAQ:ASTL – Get Free Report) last released its earnings results on Saturday, June 22nd. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.08. The company had revenue of $460.35 million during the quarter, compared to the consensus estimate of $439.82 million. Algoma Steel Group had a return on equity of 7.01% and a net margin of 3.81%. During the same quarter in the previous year, the company posted ($0.14) earnings per share. On average, equities research analysts anticipate that Algoma Steel Group Inc. will post -0.25 earnings per share for the current year.
Algoma Steel Group Dividend Announcement
Institutional Investors Weigh In On Algoma Steel Group
Several institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its holdings in Algoma Steel Group by 93.5% in the fourth quarter. Russell Investments Group Ltd. now owns 251,132 shares of the company’s stock valued at $2,527,000 after buying an additional 121,323 shares during the period. CastleKnight Management LP boosted its position in shares of Algoma Steel Group by 123.0% in the 4th quarter. CastleKnight Management LP now owns 345,500 shares of the company’s stock worth $3,465,000 after purchasing an additional 190,600 shares during the last quarter. McAdam LLC bought a new position in shares of Algoma Steel Group in the 4th quarter worth $161,000. Donald Smith & CO. Inc. grew its stake in shares of Algoma Steel Group by 25.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 9,623,479 shares of the company’s stock worth $96,523,000 after purchasing an additional 1,959,530 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Algoma Steel Group in the fourth quarter valued at about $19,461,000. Institutional investors and hedge funds own 72.00% of the company’s stock.
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.
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