Algoma Steel Group Inc. (NASDAQ:ASTL) Shares Bought by GSA Capital Partners LLP

GSA Capital Partners LLP raised its stake in Algoma Steel Group Inc. (NASDAQ:ASTL) by 23.5% in the third quarter, HoldingsChannel.com reports. The fund owned 44,757 shares of the company’s stock after purchasing an additional 8,502 shares during the quarter. GSA Capital Partners LLP’s holdings in Algoma Steel Group were worth $458,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ASTL. The Manufacturers Life Insurance Company increased its stake in Algoma Steel Group by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 81,305 shares of the company’s stock valued at $563,000 after purchasing an additional 1,621 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Algoma Steel Group by 13.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 21,188 shares of the company’s stock valued at $217,000 after purchasing an additional 2,481 shares during the last quarter. CIBC Asset Management Inc increased its stake in 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 purchasing an additional 5,674 shares during the last quarter. Bank of Montreal Can increased its stake in Algoma Steel Group by 1.7% in the second quarter. Bank of Montreal Can now owns 364,422 shares of the company’s stock valued at $2,536,000 after purchasing an additional 6,154 shares during the last quarter. Finally, Clayton Partners LLC acquired a new position in Algoma Steel Group in the second quarter valued at $73,000. 72.00% of the stock is owned by institutional investors and hedge funds.

Algoma Steel Group Stock Performance

Algoma Steel Group stock opened at $11.25 on Thursday. The firm has a market capitalization of $1.17 billion, a P/E ratio of -8.95 and a beta of 1.49. The stock has a fifty day moving average price of $10.32 and a 200 day moving average price of $9.04. Algoma Steel Group Inc. has a 52 week low of $6.67 and a 52 week high of $12.14. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Wednesday, November 27th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 annualized dividend and a yield of 1.78%. Algoma Steel Group’s payout ratio is currently -15.75%.

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.