Investors Purchase Large Volume of Algoma Steel Group Call Options (NASDAQ:ASTL)

Algoma Steel Group Inc. (NASDAQ:ASTL - Get Free Report) saw some unusual options trading activity on Tuesday. Investors acquired 10,025 call options on the company. This represents an increase of approximately 1,591% compared to the typical volume of 593 call options.

Algoma Steel Group Trading Up 3.8 %

ASTL traded up $0.37 on Tuesday, reaching $10.21. 843,978 shares of the company traded hands, compared to its average volume of 586,489. Algoma Steel Group has a one year low of $6.34 and a one year high of $10.71. The company has a quick ratio of 2.15, a current ratio of 4.19 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.06 billion, a P/E ratio of 33.23 and a beta of 1.50. The firm has a fifty day simple moving average of $9.54 and a two-hundred day simple moving average of $8.35.

Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.04. Algoma Steel Group had a negative net margin of 0.72% and a negative return on equity of 1.23%. The business had revenue of $475.44 million during the quarter, compared to analyst estimates of $444.32 million. As a group, equities research analysts expect that Algoma Steel Group will post -0.72 earnings per share for the current year.

Algoma Steel Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 23rd will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, August 23rd. This represents a $0.20 annualized dividend and a dividend yield of 1.96%. Algoma Steel Group's dividend payout ratio (DPR) is presently 64.52%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ASTL. Clayton Partners LLC bought a new position in shares of Algoma Steel Group during the 2nd quarter worth approximately $73,000. XTX Topco Ltd bought a new position in shares of Algoma Steel Group during the 2nd quarter worth approximately $73,000. Quadrature Capital Ltd bought a new position in shares of Algoma Steel Group during the 4th quarter worth approximately $114,000. Victory Capital Management Inc. bought a new position in shares of Algoma Steel Group during the 4th quarter worth approximately $126,000. Finally, Boston Partners raised its stake in shares of Algoma Steel Group by 125.2% during the 1st quarter. Boston Partners now owns 62,137 shares of the company's stock worth $528,000 after acquiring an additional 34,548 shares in the last quarter. Institutional investors own 72.00% of the company's stock.

About Algoma Steel Group

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.