Algoma Steel Group Inc. (NASDAQ:ASTL) Position Reduced by Thomist Capital Management LP

Thomist Capital Management LP decreased its holdings in Algoma Steel Group Inc. (NASDAQ:ASTL) by 0.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,977,609 shares of the company’s stock after selling 29,988 shares during the period. Algoma Steel Group makes up 12.8% of Thomist Capital Management LP’s investment portfolio, making the stock its 3rd largest position. Thomist Capital Management LP’s holdings in Algoma Steel Group were worth $34,644,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ASTL. Quadrature Capital Ltd bought a new stake in shares of Algoma Steel Group during the 4th quarter valued at $114,000. Victory Capital Management Inc. purchased a new position in Algoma Steel Group during the 4th quarter valued at about $126,000. Aigen Investment Management LP increased its position in shares of Algoma Steel Group by 79.4% during the fourth quarter. Aigen Investment Management LP now owns 48,993 shares of the company’s stock valued at $491,000 after buying an additional 21,687 shares during the period. Boston Partners lifted its holdings in shares of Algoma Steel Group by 125.2% in the first quarter. Boston Partners now owns 62,137 shares of the company’s stock worth $528,000 after buying an additional 34,548 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Algoma Steel Group by 5.8% in the second quarter. CIBC Asset Management Inc now owns 103,334 shares of the company’s stock valued at $716,000 after acquiring an additional 5,674 shares during the period. Institutional investors own 72.00% of the company’s stock.

Algoma Steel Group Stock Performance

Algoma Steel Group stock opened at $9.94 on Thursday. Algoma Steel Group Inc. has a 1-year low of $6.34 and a 1-year high of $10.71. The company has a current ratio of 4.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $1.03 billion, a PE ratio of 32.06 and a beta of 1.50. The firm’s 50 day simple moving average is $9.41 and its 200 day simple moving average is $8.31.

Algoma Steel Group (NASDAQ:ASTL) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. Algoma Steel Group had a negative net margin of 0.72% and a negative return on equity of 1.23%. The firm had revenue of $475.44 million during the quarter, compared to analyst estimates of $444.32 million. As a group, analysts expect that Algoma Steel Group Inc. will post -0.72 earnings per share for the current fiscal year.

Algoma Steel Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 23rd will be paid a $0.05 dividend. The ex-dividend date is Friday, August 23rd. This represents a $0.20 dividend on an annualized basis and a yield of 2.01%. Algoma Steel Group’s dividend payout ratio is currently 64.52%.

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.