Mutual Advisors LLC Sells 3,318 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

Mutual Advisors LLC trimmed its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 2.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 146,802 shares of the company’s stock after selling 3,318 shares during the quarter. Mutual Advisors LLC’s holdings in Algoma Steel Group were worth $1,428,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ASTL. Swiss National Bank grew its position in Algoma Steel Group by 6.1% during the 1st quarter. Swiss National Bank now owns 196,107 shares of the company’s stock worth $1,672,000 after acquiring an additional 11,300 shares during the last quarter. Russell Investments Group Ltd. grew its position in Algoma Steel Group by 63.1% during the 1st quarter. Russell Investments Group Ltd. now owns 409,658 shares of the company’s stock worth $3,485,000 after acquiring an additional 158,526 shares during the last quarter. MMCAP International Inc. SPC grew its position in Algoma Steel Group by 152.2% during the 1st quarter. MMCAP International Inc. SPC now owns 7,789,470 shares of the company’s stock worth $66,133,000 after acquiring an additional 4,700,510 shares during the last quarter. Donald Smith & CO. Inc. grew its position in shares of Algoma Steel Group by 1.4% in the 1st quarter. Donald Smith & CO. Inc. now owns 9,758,398 shares of the company’s stock worth $82,849,000 after buying an additional 134,919 shares during the last quarter. Finally, Bracebridge Capital LLC grew its position in shares of Algoma Steel Group by 11.4% in the 1st quarter. Bracebridge Capital LLC now owns 487,931 shares of the company’s stock worth $4,143,000 after buying an additional 50,000 shares during the last quarter. 72.00% of the stock is currently owned by institutional investors.

Algoma Steel Group Price Performance

Shares of ASTL stock opened at $10.35 on Friday. The firm has a market cap of $1.08 billion, a P/E ratio of -27.97 and a beta of 1.50. Algoma Steel Group Inc. has a fifty-two week low of $6.67 and a fifty-two week high of $10.71. The business’s 50 day moving average price is $10.09 and its 200-day moving average price is $8.72. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.15 and a current ratio of 4.19.

Algoma Steel Group (NASDAQ:ASTL) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.04. The firm had revenue of $475.44 million for the quarter, compared to analyst estimates of $444.32 million. Algoma Steel Group had a negative return on equity of 1.23% and a negative net margin of 0.72%. On average, equities research analysts anticipate that Algoma Steel Group Inc. will post -0.58 earnings per share for the current year.

Algoma Steel Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 23rd were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.93%. Algoma Steel Group’s dividend payout ratio is currently -54.05%.

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.