JPMorgan Chase & Co. Sells 173,777 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

JPMorgan Chase & Co. lowered its holdings in Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 48.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 183,590 shares of the company's stock after selling 173,777 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.18% of Algoma Steel Group worth $1,796,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. American Century Companies Inc. boosted its position in shares of Algoma Steel Group by 3.2% during the fourth quarter. American Century Companies Inc. now owns 172,428 shares of the company's stock valued at $1,689,000 after buying an additional 5,296 shares during the last quarter. Corient Private Wealth LLC bought a new stake in Algoma Steel Group during the 4th quarter valued at approximately $147,000. Scheer Rowlett & Associates Investment Management Ltd. lifted 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 buying an additional 22,049 shares in the last quarter. Terril Brothers Inc. purchased a new position in Algoma Steel Group in the fourth quarter worth about $214,000. Finally, CIBC Asset Management Inc boosted its stake in shares of Algoma Steel Group by 16.8% during the 4th quarter. CIBC Asset Management Inc now owns 118,602 shares of the company's stock worth $1,159,000 after purchasing an additional 17,035 shares during the period. 72.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Stifel Canada downgraded shares of Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Royal Bank of Canada upgraded shares of Algoma Steel Group to a "hold" rating in a research report on Tuesday, April 22nd.

Algoma Steel Group Price Performance

Shares of Algoma Steel Group stock traded down $0.02 during trading on Tuesday, reaching $5.10. The company's stock had a trading volume of 603,574 shares, compared to its average volume of 1,012,469. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42. Algoma Steel Group Inc. has a 12-month low of $4.17 and a 12-month high of $12.14. The company has a market capitalization of $534.64 million, a P/E ratio of -4.01 and a beta of 1.57. The business has a 50 day moving average price of $5.77 and a 200-day moving average price of $8.27.

Algoma Steel Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Friday, March 21st were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.20 dividend on an annualized basis and a yield of 3.93%. Algoma Steel Group's dividend payout ratio (DPR) is -17.54%.

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.