Renaissance Technologies LLC Acquires 65,133 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

Renaissance Technologies LLC raised its stake in Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 106.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,133 shares of the company's stock after purchasing an additional 65,133 shares during the quarter. Renaissance Technologies LLC owned approximately 0.12% of Algoma Steel Group worth $878,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Quadrature Capital Ltd acquired a new position in Algoma Steel Group in the 4th quarter valued at $114,000. Boston Partners raised its stake in 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 buying an additional 34,548 shares during the period. CIBC Asset Management Inc increased its holdings in Algoma Steel Group by 5.8% during the 2nd quarter. CIBC Asset Management Inc now owns 103,334 shares of the company's stock worth $716,000 after purchasing an additional 5,674 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in Algoma Steel Group during the 2nd quarter worth approximately $939,000. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of Algoma Steel Group in the first quarter valued at approximately $1,229,000. 72.00% of the stock is currently owned by institutional investors.

Algoma Steel Group Stock Performance

Shares of NASDAQ:ASTL traded down $0.14 during trading on Tuesday, hitting $9.87. 434,220 shares of the company were exchanged, compared to its average volume of 577,071. The company has a market cap of $1.03 billion, a PE ratio of 31.81 and a beta of 1.50. The stock has a 50 day moving average of $9.83 and a 200 day moving average of $8.51. Algoma Steel Group Inc. has a 52-week low of $6.40 and a 52-week high of $10.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.19 and a quick ratio of 2.15.

Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $475.44 million for the quarter, compared to the consensus estimate of $444.32 million. As a group, equities research analysts predict that Algoma Steel Group Inc. will post -0.72 EPS for the current year.

Algoma Steel Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 23rd were issued a $0.05 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.20 annualized dividend and a yield of 2.03%. Algoma Steel Group's dividend payout ratio (DPR) is presently 64.52%.

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.