Fmr LLC Buys Shares of 3,519,803 Algoma Steel Group Inc. (NASDAQ:ASTL)

Fmr LLC bought a new position in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 3,519,803 shares of the company’s stock, valued at approximately $36,008,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ASTL. Clayton Partners LLC bought a new position in shares of Algoma Steel Group during the 2nd quarter worth approximately $73,000. XTX Topco Ltd acquired a new stake in Algoma Steel Group during the second quarter worth approximately $73,000. Net Worth Advisory Group bought a new stake in shares of Algoma Steel Group during the third quarter worth approximately $159,000. DekaBank Deutsche Girozentrale grew its position in shares of 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. Finally, GSA Capital Partners LLP increased its stake in shares of Algoma Steel Group by 23.5% during the third quarter. GSA Capital Partners LLP now owns 44,757 shares of the company’s stock worth $458,000 after purchasing an additional 8,502 shares during the period. Institutional investors own 72.00% of the company’s stock.

Algoma Steel Group Stock Performance

ASTL opened at $10.15 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.31 and a quick ratio of 1.66. The business has a fifty day simple moving average of $10.49 and a 200 day simple moving average of $9.31. Algoma Steel Group Inc. has a 1 year low of $6.67 and a 1 year high of $12.14. The company has a market capitalization of $1.06 billion, a PE ratio of -7.99 and a beta of 1.47.

Algoma Steel Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Wednesday, November 27th will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.97%. Algoma Steel Group’s payout ratio is presently -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.