Algoma Steel Group Inc. (NASDAQ:ASTL) Short Interest Update

Algoma Steel Group Inc. (NASDAQ:ASTL) saw a significant drop in short interest in March. As of March 15th, there was short interest totalling 2,840,000 shares, a drop of 21.1% from the February 28th total of 3,600,000 shares. Currently, 2.7% of the shares of the stock are short sold. Based on an average trading volume of 924,200 shares, the short-interest ratio is currently 3.1 days.

Algoma Steel Group Stock Down 1.4 %

Shares of ASTL stock opened at $5.71 on Monday. The stock has a market cap of $598.89 million, a P/E ratio of -4.50 and a beta of 1.47. The company’s fifty day simple moving average is $7.35 and its two-hundred day simple moving average is $9.10. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42. Algoma Steel Group has a 52 week low of $5.20 and a 52 week high of $12.14.

Algoma Steel Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.50%. The ex-dividend date is Friday, March 21st. Algoma Steel Group’s dividend payout ratio is presently -17.54%.

Institutional Trading of Algoma Steel Group

Several hedge funds have recently modified their holdings of the company. Aquatic Capital Management LLC bought a new stake in Algoma Steel Group in the fourth quarter worth $64,000. Wexford Capital LP purchased a new position in shares of Algoma Steel Group in the 3rd quarter worth $107,000. Squarepoint Ops LLC bought a new stake in shares of Algoma Steel Group in the 4th quarter worth about $114,000. Two Sigma Advisers LP purchased a new stake in shares of Algoma Steel Group during the 4th quarter valued at about $117,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of Algoma Steel Group during the 4th quarter valued at about $147,000. 72.00% of the stock is owned by hedge funds and other institutional investors.

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.