Donald Smith & CO. Inc. Has $82.48 Million Position in Algoma Steel Group Inc. (NASDAQ:ASTL)

Donald Smith & CO. Inc. lowered its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 8.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,062,867 shares of the company's stock after selling 784,584 shares during the quarter. Algoma Steel Group makes up approximately 1.9% of Donald Smith & CO. Inc.'s portfolio, making the stock its 22nd largest holding. Donald Smith & CO. Inc. owned about 7.72% of Algoma Steel Group worth $82,483,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ASTL. Clayton Partners LLC bought a new position in shares of Algoma Steel Group in the 2nd quarter worth approximately $73,000. XTX Topco Ltd purchased a new position in shares of Algoma Steel Group during the second quarter valued at $73,000. Net Worth Advisory Group purchased a new position in Algoma Steel Group in the third quarter valued at about $159,000. DekaBank Deutsche Girozentrale raised its stake in Algoma Steel Group by 13.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 21,188 shares of the company's stock valued at $217,000 after buying an additional 2,481 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of Algoma Steel Group by 125.2% during the first 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. 72.00% of the stock is currently owned by hedge funds and other institutional investors.

Algoma Steel Group Trading Up 0.3 %

Shares of Algoma Steel Group stock traded up $0.03 during mid-day trading on Wednesday, hitting $10.61. The stock had a trading volume of 588,117 shares, compared to its average volume of 568,018. The firm has a 50-day moving average of $10.07 and a two-hundred day moving average of $8.70. Algoma Steel Group Inc. has a 12-month low of $6.67 and a 12-month 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 firm has a market cap of $1.10 billion, a P/E ratio of 34.10 and a beta of 1.50.

Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.04. The firm had revenue of $475.44 million during the quarter, compared to analysts' expectations of $444.32 million. Algoma Steel Group had a negative net margin of 0.72% and a negative return on equity of 1.23%. Sell-side analysts forecast that Algoma Steel Group Inc. will post -0.58 earnings per share for the current year.

Algoma Steel Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 23rd were given a $0.05 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.20 annualized dividend and a dividend yield of 1.89%. Algoma Steel Group's dividend payout ratio (DPR) is presently 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.