Arrowstreet Capital Limited Partnership boosted its holdings in Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 276.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,317,083 shares of the company's stock after purchasing an additional 966,976 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.26% of Algoma Steel Group worth $12,884,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Wexford Capital LP purchased a new stake in shares of Algoma Steel Group during the third quarter valued at approximately $107,000. Corient Private Wealth LLC purchased a new stake in shares of Algoma Steel Group during the fourth quarter valued at approximately $147,000. Terril Brothers Inc. purchased a new stake in shares of Algoma Steel Group during the fourth quarter valued at approximately $214,000. XTX Topco Ltd grew its holdings in shares of Algoma Steel Group by 132.8% during 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 during the last quarter. Finally, Barclays PLC grew its holdings in shares of Algoma Steel Group by 147.1% during 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 during the last quarter. Hedge funds and other institutional investors own 72.00% of the company's stock.
Algoma Steel Group Stock Down 6.5 %
Shares of NASDAQ:ASTL traded down $0.32 during trading on Thursday, reaching $4.59. 186,501 shares of the stock traded hands, compared to its average volume of 1,037,244. Algoma Steel Group Inc. has a 52-week low of $4.17 and a 52-week high of $12.14. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 3.31. The stock has a 50-day moving average of $6.64 and a two-hundred day moving average of $8.76. The stock has a market cap of $481.42 million, a P/E ratio of -3.61 and a beta of 1.57.
Algoma Steel Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, March 21st will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Friday, March 21st. Algoma Steel Group's dividend payout ratio is currently -17.54%.
Algoma Steel Group Profile
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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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