DekaBank Deutsche Girozentrale Sells 2,481 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

DekaBank Deutsche Girozentrale cut its holdings in Algoma Steel Group Inc. (NASDAQ:ASTL) by 11.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,707 shares of the company’s stock after selling 2,481 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Algoma Steel Group were worth $133,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. boosted 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 worth $2,140,000 after acquiring an additional 146,104 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Algoma Steel Group by 5.8% during the 2nd quarter. CIBC Asset Management Inc now owns 103,334 shares of the company’s stock valued at $716,000 after purchasing an additional 5,674 shares during the last quarter. Intact Investment Management Inc. grew its position in shares of Algoma Steel Group by 7.2% during the second 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 in the last quarter. Boston Partners increased 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 purchasing an additional 34,548 shares during the last quarter. Finally, Yaupon Capital Management LP purchased a new stake in shares of Algoma Steel Group in the first quarter worth about $7,663,000. 72.00% of the stock is currently owned by institutional investors.

Algoma Steel Group Stock Performance

NASDAQ ASTL opened at $9.76 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.19 and a quick ratio of 2.15. Algoma Steel Group Inc. has a 1-year low of $6.34 and a 1-year high of $10.71. The business has a 50 day simple moving average of $9.51 and a two-hundred day simple moving average of $8.34. The stock has a market capitalization of $1.02 billion, a PE ratio of 31.48 and a beta of 1.50.

Algoma Steel Group (NASDAQ:ASTL) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.04. Algoma Steel Group had a negative net margin of 0.72% and a negative return on equity of 1.23%. The company had revenue of $475.44 million for the quarter, compared to analysts’ expectations of $444.32 million. On average, research analysts predict that Algoma Steel Group Inc. will post -0.72 EPS for the current fiscal year.

Algoma Steel Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 23rd will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Friday, August 23rd. Algoma Steel Group’s payout ratio is 64.52%.

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.