Geode Capital Management LLC Boosts Stock Holdings in Algoma Steel Group Inc. (NASDAQ:ASTL)

Geode Capital Management LLC lifted its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 38.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,861 shares of the company’s stock after buying an additional 41,835 shares during the quarter. Geode Capital Management LLC’s holdings in Algoma Steel Group were worth $1,545,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its position in shares of Algoma Steel Group by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 81,305 shares of the company’s stock worth $563,000 after acquiring an additional 1,621 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Algoma Steel Group by 13.3% during the 3rd 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 period. Bank of Montreal Can lifted its holdings in Algoma Steel Group by 1.7% during the 2nd quarter. Bank of Montreal Can now owns 364,422 shares of the company’s stock worth $2,536,000 after purchasing an additional 6,154 shares in the last quarter. HITE Hedge Asset Management LLC boosted its stake in Algoma Steel Group by 7.9% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 92,646 shares of the company’s stock worth $948,000 after purchasing an additional 6,803 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in Algoma Steel Group by 23.5% during the 3rd quarter. GSA Capital Partners LLP now owns 44,757 shares of the company’s stock valued at $458,000 after buying an additional 8,502 shares in the last quarter. 72.00% of the stock is owned by institutional investors.

Algoma Steel Group Trading Down 3.3 %

Shares of Algoma Steel Group stock opened at $8.33 on Thursday. The company’s 50-day moving average price is $10.31 and its 200-day moving average price is $9.63. 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 Inc. has a 12-month low of $6.67 and a 12-month high of $12.14. The company has a market cap of $872.33 million, a price-to-earnings ratio of -6.56 and a beta of 1.49.

Algoma Steel Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Wednesday, November 27th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.40%. The ex-dividend date was Wednesday, November 27th. Algoma Steel Group’s payout ratio is -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.