Thomist Capital Management LP decreased its holdings in Algoma Steel Group Inc. (NASDAQ:ASTL – Free Report) by 0.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,977,609 shares of the company’s stock after selling 29,988 shares during the period. Algoma Steel Group makes up 12.8% of Thomist Capital Management LP’s investment portfolio, making the stock its 3rd largest position. Thomist Capital Management LP’s holdings in Algoma Steel Group were worth $34,644,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of ASTL. Quadrature Capital Ltd bought a new stake in shares of Algoma Steel Group during the 4th quarter valued at $114,000. Victory Capital Management Inc. purchased a new position in Algoma Steel Group during the 4th quarter valued at about $126,000. Aigen Investment Management LP increased its position in shares of Algoma Steel Group by 79.4% during the fourth quarter. Aigen Investment Management LP now owns 48,993 shares of the company’s stock valued at $491,000 after buying an additional 21,687 shares during the period. Boston Partners lifted its holdings in shares of Algoma Steel Group by 125.2% in the first quarter. Boston Partners now owns 62,137 shares of the company’s stock worth $528,000 after buying an additional 34,548 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of 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 acquiring an additional 5,674 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 $9.94 on Thursday. Algoma Steel Group Inc. has a 1-year low of $6.34 and a 1-year high of $10.71. The company has a current ratio of 4.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $1.03 billion, a PE ratio of 32.06 and a beta of 1.50. The firm’s 50 day simple moving average is $9.41 and its 200 day simple moving average is $8.31.
Algoma Steel Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 23rd will be paid a $0.05 dividend. The ex-dividend date is Friday, August 23rd. This represents a $0.20 dividend on an annualized basis and a yield of 2.01%. Algoma Steel Group’s dividend payout ratio is currently 64.52%.
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.
Read More
- Five stocks we like better than Algoma Steel Group
- What is the Dow Jones Industrial Average (DJIA)?
- How Much Can You Make in Stocks in One Month?
- What is a Bond Market Holiday? How to Invest and Trade
- This Is the Top Large-Cap Stock Insiders Are Buying
- How to Invest in the FAANG Stocks
- Capitalize on Micron’s 24% Drop—Wall Street Eyes Major Upside
Want to see what other hedge funds are holding ASTL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Algoma Steel Group Inc. (NASDAQ:ASTL – Free Report).
Receive News & Ratings for Algoma Steel Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Algoma Steel Group and related companies with MarketBeat.com's FREE daily email newsletter.