TCW Group Inc. cut its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 16.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,588,621 shares of the company's stock after selling 301,614 shares during the period. TCW Group Inc. owned about 1.51% of Algoma Steel Group worth $15,537,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC purchased a new stake in Algoma Steel Group during the third quarter valued at $36,008,000. Intact Investment Management Inc. increased its position in shares of 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 purchasing an additional 80,700 shares during the last quarter. Yaupon Capital Management LP purchased a new stake in shares of Algoma Steel Group during the 3rd quarter valued at about $9,165,000. Invenomic Capital Management LP lifted its stake in shares of Algoma Steel Group by 112.1% in the 3rd quarter. Invenomic Capital Management LP now owns 636,917 shares of the company's stock worth $6,516,000 after purchasing an additional 336,687 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Algoma Steel Group by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 357,367 shares of the company's stock worth $3,656,000 after buying an additional 49,642 shares during the last quarter. 72.00% of the stock is owned by institutional investors.
Algoma Steel Group Stock Performance
ASTL stock traded up $0.19 during midday trading on Wednesday, reaching $7.23. 2,794,781 shares of the company's stock traded hands, compared to its average volume of 567,288. The company has a current ratio of 3.31, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42. Algoma Steel Group Inc. has a 52-week low of $6.67 and a 52-week high of $12.14. The stock has a market cap of $758.31 million, a P/E ratio of -5.69 and a beta of 1.46. The stock's 50-day moving average is $8.60 and its 200 day moving average is $9.68.
Algoma Steel Group Profile
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Free Report)
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.
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