Yaupon Capital Management LP Acquires 188,695 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

Yaupon Capital Management LP boosted its position in shares of Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 21.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,084,601 shares of the company's stock after acquiring an additional 188,695 shares during the period. Yaupon Capital Management LP owned 1.03% of Algoma Steel Group worth $10,607,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ASTL. Gamco Investors INC. ET AL lifted its position in shares of Algoma Steel Group by 4.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 32,675 shares of the company's stock worth $320,000 after acquiring an additional 1,350 shares during the period. Geode Capital Management LLC raised its stake in shares of Algoma Steel Group by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 152,846 shares of the company's stock valued at $1,499,000 after purchasing an additional 1,985 shares in the last quarter. Legal & General Group Plc lifted its position in Algoma Steel Group by 4.8% in the fourth quarter. Legal & General Group Plc now owns 80,745 shares of the company's stock worth $790,000 after purchasing an additional 3,666 shares during the period. Van ECK Associates Corp boosted its stake in Algoma Steel Group by 4.0% during the fourth quarter. Van ECK Associates Corp now owns 103,555 shares of the company's stock worth $1,013,000 after buying an additional 3,944 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Algoma Steel Group by 3.2% in the 4th quarter. American Century Companies Inc. now owns 172,428 shares of the company's stock valued at $1,689,000 after buying an additional 5,296 shares during the period. 72.00% of the stock is currently owned by institutional investors.

Algoma Steel Group Price Performance

Shares of NASDAQ:ASTL traded down $0.12 on Friday, hitting $5.13. The stock had a trading volume of 1,122,012 shares, compared to its average volume of 693,270. The firm's 50 day moving average price is $5.88 and its 200-day moving average price is $8.36. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 3.31. Algoma Steel Group Inc. has a twelve month low of $4.17 and a twelve month high of $12.14. The company has a market capitalization of $538.31 million, a price-to-earnings ratio of -4.04 and a beta of 1.57.

Algoma Steel Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Friday, March 21st were paid a dividend of $0.05 per share. The ex-dividend date was Friday, March 21st. This represents a $0.20 annualized dividend and a yield of 3.90%. Algoma Steel Group's dividend payout ratio is -17.54%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Stifel Canada lowered shares of Algoma Steel Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Royal Bank of Canada raised Algoma Steel Group to a "hold" rating in a report on Tuesday.

About Algoma Steel Group

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.