UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 7,846 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 9.6% in the third quarter, Holdings Channel.com reports. The fund owned 73,661 shares of the company’s stock after selling 7,846 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Algoma Steel Group were worth $754,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Intact Investment Management Inc. increased its position in Algoma Steel Group by 7.2% during the 2nd quarter. Intact Investment Management Inc. now owns 1,217,900 shares of the company’s stock valued at $8,448,000 after purchasing an additional 81,700 shares during the period. CIBC Asset Management Inc increased its position in shares of Algoma Steel Group by 5.8% during the second quarter. CIBC Asset Management Inc now owns 103,334 shares of the company’s stock valued at $716,000 after buying an additional 5,674 shares during the period. American Century Companies Inc. increased its position in shares of Algoma Steel Group by 89.9% during the second quarter. American Century Companies Inc. now owns 308,543 shares of the company’s stock valued at $2,140,000 after buying an additional 146,104 shares during the period. Dimensional Fund Advisors LP bought a new position in Algoma Steel Group in the second quarter worth about $939,000. Finally, Renaissance Technologies LLC lifted its holdings in Algoma Steel Group by 106.8% in the second quarter. Renaissance Technologies LLC now owns 126,133 shares of the company’s stock worth $878,000 after buying an additional 65,133 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 $9.35 on Friday. Algoma Steel Group Inc. has a fifty-two week low of $6.67 and a fifty-two week high of $12.14. The stock’s 50 day simple moving average is $10.47 and its two-hundred day simple moving average is $9.41. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 3.31. The stock has a market cap of $979.14 million, a price-to-earnings ratio of -7.36 and a beta of 1.47.

Algoma Steel Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Wednesday, November 27th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 annualized dividend and a dividend yield of 2.14%. Algoma Steel Group’s dividend payout ratio is presently -15.75%.

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.