Maven Securities LTD Cuts Stock Holdings in Algoma Steel Group Inc. (NASDAQ:ASTL)

Maven Securities LTD reduced its position in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 66.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,000 shares of the company's stock after selling 200,000 shares during the quarter. Maven Securities LTD owned about 0.10% of Algoma Steel Group worth $696,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of ASTL. CastleKnight Management LP increased its holdings in Algoma Steel Group by 123.0% during the 4th quarter. CastleKnight Management LP now owns 345,500 shares of the company's stock worth $3,465,000 after purchasing an additional 190,600 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Algoma Steel Group in the 4th quarter valued at $114,000. Thomist Capital Management LP grew its stake in Algoma Steel Group by 100.3% during the 1st quarter. Thomist Capital Management LP now owns 5,007,597 shares of the company's stock worth $42,514,000 after buying an additional 2,508,133 shares during the last quarter. Swiss National Bank grew its stake in Algoma Steel Group by 6.1% during the 1st quarter. Swiss National Bank now owns 196,107 shares of the company's stock worth $1,672,000 after buying an additional 11,300 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Algoma Steel Group by 63.1% during the 1st quarter. Russell Investments Group Ltd. now owns 409,658 shares of the company's stock worth $3,485,000 after buying an additional 158,526 shares during the last quarter. 72.00% of the stock is currently owned by hedge funds and other institutional investors.

Algoma Steel Group Stock Down 0.8 %

ASTL stock traded down $0.08 on Thursday, hitting $9.98. 265,065 shares of the company's stock were exchanged, compared to its average volume of 579,700. Algoma Steel Group Inc. has a 12-month low of $6.34 and a 12-month high of $10.71. The firm has a 50 day moving average price of $9.78 and a two-hundred day moving average price of $8.47. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.15 and a current ratio of 4.19. The stock has a market cap of $1.04 billion, a P/E ratio of 32.19 and a beta of 1.50.

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

Algoma Steel Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 23rd were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.20 dividend on an annualized basis and a yield of 2.00%. Algoma Steel Group's dividend payout ratio is currently 64.52%.

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.