Dimensional Fund Advisors LP Makes New Investment in Algoma Steel Group Inc. (NASDAQ:ASTL)

Dimensional Fund Advisors LP purchased a new stake in Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 134,969 shares of the company's stock, valued at approximately $939,000. Dimensional Fund Advisors LP owned approximately 0.13% of Algoma Steel Group as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. CIBC Asset Management Inc increased its position in Algoma Steel Group by 5.8% in the second quarter. CIBC Asset Management Inc now owns 103,334 shares of the company's stock worth $716,000 after buying an additional 5,674 shares in the last quarter. Swiss National Bank grew its position in shares of Algoma Steel Group by 6.1% in 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. Quadrature Capital Ltd acquired a new position in shares of Algoma Steel Group in the fourth quarter valued at about $114,000. Boston Partners grew 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 purchasing an additional 34,548 shares during the period. Finally, Bracebridge Capital LLC boosted its stake in shares of Algoma Steel Group by 11.4% in the first quarter. Bracebridge Capital LLC now owns 487,931 shares of the company's stock worth $4,143,000 after acquiring an additional 50,000 shares during the last quarter. 72.00% of the stock is owned by hedge funds and other institutional investors.

Algoma Steel Group Trading Up 0.3 %

ASTL traded up $0.03 on Friday, hitting $9.98. The company had a trading volume of 350,111 shares, compared to its average volume of 576,758. Algoma Steel Group Inc. has a 1 year low of $6.40 and a 1 year high of $10.71. The company's fifty day moving average price is $9.90 and its 200 day moving average price is $8.56. The company has a current ratio of 4.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.39. The firm 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 issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $444.32 million. As a group, equities analysts expect that Algoma Steel Group Inc. will post -0.69 earnings per share for the current year.

Algoma Steel Group Announces Dividend

The company also recently announced 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. This represents a $0.20 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Friday, August 23rd. Algoma Steel Group's dividend payout ratio is 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.