Shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Get Free Report) dropped 4.8% during mid-day trading on Monday . The stock traded as low as $6.25 and last traded at $6.24. Approximately 132,116 shares were traded during trading, a decline of 79% from the average daily volume of 619,517 shares. The stock had previously closed at $6.55.
Algoma Steel Group Stock Performance
The firm has a 50 day simple moving average of $7.66 and a 200-day simple moving average of $9.32. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.31 and a quick ratio of 1.66. The company has a market cap of $674.40 million, a price-to-earnings ratio of -5.08 and a beta of 1.47.
Algoma Steel Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 21st will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, March 21st. This represents a $0.20 annualized dividend and a yield of 3.11%. Algoma Steel Group's dividend payout ratio (DPR) is -17.54%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp purchased a new stake in Algoma Steel Group during the 4th quarter worth about $1,955,000. Public Employees Retirement System of Ohio purchased a new stake in Algoma Steel Group during the 4th quarter worth about $462,000. Woodline Partners LP lifted its holdings in Algoma Steel Group by 59.2% during the 4th quarter. Woodline Partners LP now owns 2,844,439 shares of the company's stock worth $27,819,000 after buying an additional 1,057,517 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Algoma Steel Group during the 4th quarter worth about $114,000. Finally, Two Sigma Advisers LP purchased a new stake in shares of Algoma Steel Group in the 4th quarter valued at about $117,000. 72.00% of the stock is owned by institutional investors and hedge funds.
Algoma Steel Group Company Profile
(
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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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