Algoma Steel Group (NASDAQ:ASTL) Trading 3.1% Higher

Shares of Algoma Steel Group Inc. (NASDAQ:ASTL) traded up 3.1% during mid-day trading on Wednesday . The stock traded as high as $7.89 and last traded at $7.89. 11,052 shares changed hands during trading, a decline of 98% from the average session volume of 628,575 shares. The stock had previously closed at $7.65.

Algoma Steel Group Stock Performance

The company’s 50 day moving average price is $8.13 and its 200-day moving average price is $8.14. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.98 and a current ratio of 2.88. The company has a market cap of $815.10 million, a PE ratio of 76.50 and a beta of 1.52.

Algoma Steel Group (NASDAQ:ASTL) last issued its quarterly earnings results on Tuesday, February 6th. The company reported ($0.57) earnings per share (EPS) for the quarter. The company had revenue of $452.07 million for the quarter, compared to analysts’ expectations of $453.22 million. Algoma Steel Group had a return on equity of 3.84% and a net margin of 2.05%. Equities research analysts anticipate that Algoma Steel Group Inc. will post 0.78 earnings per share for the current fiscal year.

Algoma Steel Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, February 29th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.55%. The ex-dividend date was Wednesday, February 28th. Algoma Steel Group’s dividend payout ratio (DPR) is presently 200.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its holdings in Algoma Steel Group by 91.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,619 shares of the company’s stock valued at $25,000 after purchasing an additional 1,729 shares during the period. UBS Group AG bought a new position in Algoma Steel Group in the 3rd quarter valued at $34,000. Deutsche Bank AG bought a new position in Algoma Steel Group in the 4th quarter valued at $42,000. Point72 Asset Management L.P. bought a new position in Algoma Steel Group in the 4th quarter valued at $45,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Algoma Steel Group in the 3rd quarter valued at $73,000. 72.00% of the stock is owned by institutional investors.

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.