Algoma Steel Group Inc. (NASDAQ:ASTL) Short Interest Update

Algoma Steel Group Inc. (NASDAQ:ASTL) saw a large decrease in short interest in December. As of December 15th, there was short interest totalling 4,210,000 shares, a decrease of 7.1% from the November 30th total of 4,530,000 shares. Based on an average daily volume of 530,900 shares, the short-interest ratio is presently 7.9 days.

Institutional Investors Weigh In On Algoma Steel Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC bought a new position in Algoma Steel Group during the third quarter worth about $36,008,000. Yaupon Capital Management LP acquired a new stake in shares of Algoma Steel Group in the third quarter valued at approximately $9,165,000. Invenomic Capital Management LP boosted its stake in shares of Algoma Steel Group by 112.1% during the 3rd quarter. Invenomic Capital Management LP now owns 636,917 shares of the company’s stock worth $6,516,000 after acquiring an additional 336,687 shares during the period. PCJ Investment Counsel Ltd. acquired a new position in shares of Algoma Steel Group during the 3rd quarter worth approximately $1,879,000. Finally, American Century Companies Inc. raised its stake in Algoma Steel Group by 89.9% in the 2nd quarter. American Century Companies Inc. now owns 308,543 shares of the company’s stock valued at $2,140,000 after acquiring an additional 146,104 shares during the period. 72.00% of the stock is owned by institutional investors.

Algoma Steel Group Price Performance

NASDAQ:ASTL opened at $9.67 on Tuesday. The stock has a market capitalization of $1.01 billion, a PE ratio of -7.61 and a beta of 1.47. Algoma Steel Group has a 1-year low of $6.67 and a 1-year high of $12.14. The firm has a fifty day simple moving average of $10.44 and a 200 day simple moving average of $9.55. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Wednesday, November 27th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Wednesday, November 27th. Algoma Steel Group’s dividend payout ratio (DPR) is presently -15.75%.

Algoma Steel Group Company 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.