Intact Investment Management Inc. Grows Stock Holdings in Algoma Steel Group Inc. (NASDAQ:ASTL)

Intact Investment Management Inc. increased its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 6.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,298,600 shares of the company's stock after acquiring an additional 80,700 shares during the quarter. Intact Investment Management Inc. owned approximately 1.25% of Algoma Steel Group worth $13,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its stake in shares of Algoma Steel Group by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 81,305 shares of the company's stock valued at $563,000 after acquiring an additional 1,621 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Algoma Steel Group by 13.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 21,188 shares of the company's stock valued at $217,000 after purchasing an additional 2,481 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Algoma Steel Group by 5.8% in the 2nd 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 during the period. Bank of Montreal Can grew its position in shares of Algoma Steel Group by 1.7% in the 2nd quarter. Bank of Montreal Can now owns 364,422 shares of the company's stock worth $2,536,000 after buying an additional 6,154 shares during the last quarter. Finally, Clayton Partners LLC purchased a new position in shares of Algoma Steel Group during the second quarter valued at approximately $73,000. 72.00% of the stock is owned by hedge funds and other institutional investors.

Algoma Steel Group Trading Down 1.6 %

Shares of Algoma Steel Group stock traded down $0.17 during midday trading on Monday, reaching $10.42. 305,179 shares of the company's stock traded hands, compared to its average volume of 566,017. The stock has a 50 day moving average of $10.11 and a 200-day moving average of $8.76. Algoma Steel Group Inc. has a 12 month low of $6.67 and a 12 month high of $10.73. The company has a market cap of $1.09 billion, a PE ratio of -28.89 and a beta of 1.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.15 and a current ratio of 4.19.

Algoma Steel Group (NASDAQ:ASTL - Get Free Report) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, topping 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%. As a group, equities analysts expect that Algoma Steel Group Inc. will post -0.58 EPS for the current fiscal year.

Algoma Steel Group Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.92%. Algoma Steel Group's payout ratio is -54.05%.

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.