TCW Group Inc. Sells 144,749 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

TCW Group Inc. reduced its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 7.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,890,235 shares of the company's stock after selling 144,749 shares during the quarter. TCW Group Inc. owned approximately 1.81% of Algoma Steel Group worth $19,337,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Algoma Steel Group by 38.4% in the third quarter. Geode Capital Management LLC now owns 150,861 shares of the company's stock valued at $1,545,000 after buying an additional 41,835 shares in the last quarter. Barclays PLC grew its stake in shares of Algoma Steel Group by 147.1% in the third quarter. Barclays PLC now owns 25,711 shares of the company's stock valued at $263,000 after buying an additional 15,305 shares in the last quarter. XTX Topco Ltd grew its stake in shares of Algoma Steel Group by 132.8% in the third quarter. XTX Topco Ltd now owns 24,433 shares of the company's stock valued at $250,000 after buying an additional 13,937 shares in the last quarter. Yaupon Capital Management LP acquired a new stake in Algoma Steel Group during the 3rd quarter valued at $9,165,000. Finally, Wexford Capital LP acquired a new stake in Algoma Steel Group during the 3rd quarter valued at $107,000. 72.00% of the stock is owned by institutional investors.

Algoma Steel Group Stock Performance

Algoma Steel Group stock traded down $0.05 during mid-day trading on Wednesday, hitting $10.10. 274,973 shares of the company's stock traded hands, compared to its average volume of 570,080. The firm has a 50 day simple moving average of $10.50 and a two-hundred day simple moving average of $9.34. Algoma Steel Group Inc. has a fifty-two week low of $6.67 and a fifty-two week high of $12.14. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -7.95 and a beta of 1.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.31 and a quick ratio of 1.66.

Algoma Steel Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Wednesday, November 27th. Algoma Steel Group's dividend payout ratio is currently -15.75%.

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.