Algoma Steel Group Inc. (NASDAQ:ASTL - Get Free Report) fell 4.8% during trading on Monday . The company traded as low as $6.25 and last traded at $6.24. 132,116 shares changed hands during trading, a decline of 79% from the average session volume of 619,517 shares. The stock had previously closed at $6.55.
Algoma Steel Group Stock Performance
The company has a market capitalization of $645.04 million, a P/E ratio of -4.84 and a beta of 1.47. The company has a current ratio of 3.31, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42. The company's fifty day moving average is $7.62 and its 200 day moving average is $9.29.
Algoma Steel Group Dividend Announcement
The firm also recently declared 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. This represents a $0.20 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Friday, March 21st. Algoma Steel Group's dividend payout ratio (DPR) is presently -17.54%.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in ASTL. FMR LLC purchased a new position in Algoma Steel Group during the 3rd quarter valued at about $36,008,000. Woodline Partners LP increased its holdings in Algoma Steel Group by 59.2% during the fourth quarter. Woodline Partners LP now owns 2,844,439 shares of the company's stock valued at $27,819,000 after buying an additional 1,057,517 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. boosted its position in shares of Algoma Steel Group by 1.0% in the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 2,179,362 shares of the company's stock worth $21,320,000 after purchasing an additional 22,049 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Algoma Steel Group by 276.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,317,083 shares of the company's stock valued at $12,884,000 after acquiring an additional 966,976 shares during the period. Finally, J. Goldman & Co LP boosted its stake in Algoma Steel Group by 1.5% in the 4th quarter. J. Goldman & Co LP now owns 1,226,375 shares of the company's stock worth $11,994,000 after purchasing an additional 17,802 shares during the period. 72.00% of the stock is owned by hedge funds and other institutional investors.
About Algoma Steel Group
(
Get Free Report)
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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