PDT Partners LLC Grows Stake in Algoma Steel Group Inc. (NASDAQ:ASTL)

PDT Partners LLC increased its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 476.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,337 shares of the company's stock after buying an additional 66,390 shares during the quarter. PDT Partners LLC owned about 0.08% of Algoma Steel Group worth $822,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ASTL. American Century Companies Inc. grew its stake in Algoma Steel Group by 89.9% during the 2nd quarter. American Century Companies Inc. now owns 308,543 shares of the company's stock valued at $2,140,000 after purchasing an additional 146,104 shares during the last quarter. Renaissance Technologies LLC raised its position in Algoma Steel Group by 106.8% during the 2nd quarter. Renaissance Technologies LLC now owns 126,133 shares of the company's stock worth $878,000 after buying an additional 65,133 shares during the last quarter. Intact Investment Management Inc. lifted its stake in Algoma Steel Group by 6.6% during the 3rd quarter. Intact Investment Management Inc. now owns 1,298,600 shares of the company's stock valued at $13,309,000 after acquiring an additional 80,700 shares during the period. Dimensional Fund Advisors LP purchased a new stake in shares of Algoma Steel Group in the 2nd quarter valued at $939,000. Finally, Consolidated Portfolio Review Corp acquired a new stake in shares of Algoma Steel Group in the third quarter worth $1,382,000. 72.00% of the stock is owned by institutional investors and hedge funds.

Algoma Steel Group Stock Performance

Shares of NASDAQ ASTL traded up $0.06 during midday trading on Tuesday, reaching $10.62. 315,855 shares of the stock were exchanged, compared to its average volume of 574,928. The firm has a 50-day simple moving average of $10.49 and a two-hundred day simple moving average of $9.26. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42. Algoma Steel Group Inc. has a twelve month low of $6.67 and a twelve month high of $12.14. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -8.36 and a beta of 1.47.

Algoma Steel Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Wednesday, November 27th will be given 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 yield of 1.88%. Algoma Steel Group's dividend payout ratio is currently -15.75%.

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.