Boston Partners Trims Holdings in Algoma Steel Group Inc. (NASDAQ:ASTL)

Boston Partners lessened its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 57.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,316 shares of the company's stock after selling 96,661 shares during the period. Boston Partners owned approximately 0.07% of Algoma Steel Group worth $688,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. FMR LLC purchased a new stake in shares of Algoma Steel Group during the 3rd quarter worth approximately $36,008,000. Scheer Rowlett & Associates Investment Management Ltd. raised its stake in shares of Algoma Steel Group by 1.0% during the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 2,179,362 shares of the company's stock worth $21,320,000 after buying an additional 22,049 shares during the last quarter. Yaupon Capital Management LP purchased a new stake in shares of Algoma Steel Group in the 3rd quarter worth about $9,165,000. Invenomic Capital Management LP grew its stake in Algoma Steel Group by 112.1% in the 3rd quarter. Invenomic Capital Management LP now owns 636,917 shares of the company's stock valued at $6,516,000 after acquiring an additional 336,687 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Algoma Steel Group by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 357,367 shares of the company's stock valued at $3,656,000 after acquiring an additional 49,642 shares in the last quarter. Hedge funds and other institutional investors own 72.00% of the company's stock.

Algoma Steel Group Price Performance

Shares of NASDAQ ASTL traded down $0.20 on Wednesday, hitting $5.94. The company's stock had a trading volume of 569,256 shares, compared to its average volume of 630,635. The stock has a 50 day moving average of $7.50 and a 200-day moving average of $9.19. The company has a market capitalization of $623.01 million, a price-to-earnings ratio of -4.68 and a beta of 1.47. Algoma Steel Group Inc. has a 12-month low of $5.20 and a 12-month high of $12.14. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.31 and a quick ratio of 1.66.

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Algoma Steel Group Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Friday, March 21st. Algoma Steel Group's dividend payout ratio (DPR) is presently -17.54%.

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.