Algoma Steel Group Inc. (NASDAQ:ASTL) Shares Sold by MQS Management LLC

MQS Management LLC decreased its holdings in Algoma Steel Group Inc. (NASDAQ:ASTL) by 46.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,800 shares of the company’s stock after selling 11,007 shares during the quarter. MQS Management LLC’s holdings in Algoma Steel Group were worth $109,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ASTL. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Algoma Steel Group by 47.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,329 shares of the company’s stock worth $194,000 after purchasing an additional 6,236 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Algoma Steel Group during the 4th quarter worth about $19,461,000. Russell Investments Group Ltd. lifted its position in Algoma Steel Group by 93.5% during the 4th quarter. Russell Investments Group Ltd. now owns 251,132 shares of the company’s stock worth $2,527,000 after acquiring an additional 121,323 shares during the period. Intact Investment Management Inc. lifted its position in Algoma Steel Group by 1.6% during the 4th quarter. Intact Investment Management Inc. now owns 1,100,800 shares of the company’s stock worth $11,050,000 after acquiring an additional 17,200 shares during the period. Finally, McAdam LLC acquired a new stake in Algoma Steel Group during the 4th quarter worth about $161,000. Institutional investors and hedge funds own 72.00% of the company’s stock.

Algoma Steel Group Stock Performance

ASTL traded up $0.03 on Thursday, reaching $8.63. 453,807 shares of the stock were exchanged, compared to its average volume of 522,123. The company’s 50-day moving average price is $7.62 and its 200 day moving average price is $8.01. Algoma Steel Group Inc. has a fifty-two week low of $6.34 and a fifty-two week high of $10.25. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.95 and a quick ratio of 1.06. The firm has a market capitalization of $898.56 million, a PE ratio of 27.84 and a beta of 1.47.

Algoma Steel Group (NASDAQ:ASTL) last issued its quarterly earnings results on Saturday, June 22nd. The company reported $0.07 EPS 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 analysts’ expectations 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 firm posted ($0.14) EPS. As a group, sell-side analysts forecast that Algoma Steel Group Inc. will post -0.25 EPS for the current fiscal year.

Algoma Steel Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Tuesday, July 2nd were issued a $0.05 dividend. The ex-dividend date was Tuesday, July 2nd. This represents a $0.20 annualized dividend and a dividend yield of 2.32%. Algoma Steel Group’s dividend payout ratio (DPR) is presently 64.52%.

Algoma Steel Group 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.