Heartland Advisors Inc. Acquires 100,000 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

Heartland Advisors Inc. boosted its stake in Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 100.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,000 shares of the company's stock after acquiring an additional 100,000 shares during the period. Heartland Advisors Inc. owned 0.19% of Algoma Steel Group worth $1,956,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ASTL. FMR LLC acquired a new position in shares of Algoma Steel Group in the 3rd quarter worth approximately $36,008,000. Scheer Rowlett & Associates Investment Management Ltd. raised its stake in Algoma Steel Group by 1.0% during 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 buying an additional 22,049 shares during the last quarter. Yaupon Capital Management LP acquired a new position in Algoma Steel Group in the third quarter valued at $9,165,000. Invenomic Capital Management LP boosted its position in Algoma Steel Group by 112.1% during the third quarter. Invenomic Capital Management LP now owns 636,917 shares of the company's stock valued at $6,516,000 after acquiring an additional 336,687 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Algoma Steel Group by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 357,367 shares of the company's stock worth $3,656,000 after acquiring an additional 49,642 shares during the period. Institutional investors and hedge funds own 72.00% of the company's stock.

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Algoma Steel Group Trading Up 0.2 %

Shares of NASDAQ:ASTL traded up $0.01 during midday trading on Wednesday, reaching $5.45. The company's stock had a trading volume of 306,308 shares, compared to its average volume of 645,263. Algoma Steel Group Inc. has a fifty-two week low of $5.20 and a fifty-two 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 firm has a 50 day moving average price of $7.23 and a two-hundred day moving average price of $9.03. The firm has a market capitalization of $571.62 million, a price-to-earnings ratio of -4.29 and a beta of 1.47.

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 issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Friday, March 21st. Algoma Steel Group's payout ratio is -17.54%.

Algoma Steel Group Company 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.