Assenagon Asset Management S.A. Takes $1.25 Million Position in Algoma Steel Group Inc. (NASDAQ:ASTL)

Assenagon Asset Management S.A. acquired a new stake in Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 127,592 shares of the company's stock, valued at approximately $1,248,000. Assenagon Asset Management S.A. owned 0.12% of Algoma Steel Group as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ASTL. FMR LLC purchased a new position in shares of Algoma Steel Group in the third quarter valued at $36,008,000. JPMorgan Chase & Co. lifted its position in shares of Algoma Steel Group by 16.1% in the third 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. American Century Companies Inc. lifted its position in shares of Algoma Steel Group by 89.9% in the second quarter. American Century Companies Inc. now owns 308,543 shares of the company's stock valued at $2,140,000 after acquiring an additional 146,104 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Algoma Steel Group by 106.8% during the second quarter. Renaissance Technologies LLC now owns 126,133 shares of the company's stock valued at $878,000 after acquiring an additional 65,133 shares during the last quarter. Finally, Intact Investment Management Inc. increased its position in Algoma Steel Group by 6.6% during the 3rd quarter. Intact Investment Management Inc. now owns 1,298,600 shares of the company's stock worth $13,309,000 after purchasing an additional 80,700 shares in the last quarter. Hedge funds and other institutional investors own 72.00% of the company's stock.

Algoma Steel Group Trading Up 2.5 %

NASDAQ:ASTL traded up $0.22 on Friday, reaching $8.85. The stock had a trading volume of 381,375 shares, compared to its average volume of 739,758. Algoma Steel Group Inc. has a 12-month low of $6.67 and a 12-month high of $12.14. The company has a market cap of $928.01 million, a price-to-earnings ratio of -6.97 and a beta of 1.49. The firm's fifty day moving average is $9.71 and its two-hundred day moving average is $9.72. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Wednesday, November 27th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Wednesday, November 27th. Algoma Steel Group's payout ratio is -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.