183,500 Shares in Algoma Steel Group Inc. (NASDAQ:ASTL) Purchased by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. acquired a new stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 183,500 shares of the company's stock, valued at approximately $1,879,000. PCJ Investment Counsel Ltd. owned 0.18% of Algoma Steel Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. GSA Capital Partners LLP grew its holdings in Algoma Steel Group by 23.5% during the third quarter. GSA Capital Partners LLP now owns 44,757 shares of the company's stock worth $458,000 after purchasing an additional 8,502 shares during the period. Intact Investment Management Inc. boosted its stake in Algoma Steel Group by 6.6% in the third quarter. Intact Investment Management Inc. now owns 1,298,600 shares of the company's stock worth $13,309,000 after buying an additional 80,700 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Algoma Steel Group by 13.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 21,188 shares of the company's stock valued at $217,000 after acquiring an additional 2,481 shares in the last quarter. Consolidated Portfolio Review Corp purchased a new stake in shares of Algoma Steel Group in the third quarter worth $1,382,000. Finally, Net Worth Advisory Group purchased a new stake in shares of Algoma Steel Group during the third quarter valued at $159,000. Hedge funds and other institutional investors own 72.00% of the company's stock.

Algoma Steel Group Stock Performance

Shares of ASTL traded down $0.02 during mid-day trading on Wednesday, reaching $11.35. The company had a trading volume of 843,406 shares, compared to its average volume of 581,660. The stock has a market capitalization of $1.19 billion, a P/E ratio of -8.95 and a beta of 1.49. Algoma Steel Group Inc. has a 52-week low of $6.67 and a 52-week high of $12.14. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average of $10.32 and a two-hundred day moving average of $9.04.

Algoma Steel Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Wednesday, November 27th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.76%. Algoma Steel Group's dividend payout ratio is presently -15.75%.

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.