Algoma Steel Group (NASDAQ:ASTL) Shares Gap Up to $7.86

Algoma Steel Group Inc. (NASDAQ:ASTL)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $7.86, but opened at $8.08. Algoma Steel Group shares last traded at $7.88, with a volume of 49,947 shares.

Algoma Steel Group Trading Up 0.9 %

The company has a 50 day simple moving average of $8.12 and a 200 day simple moving average of $8.13. 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 capitalization of $825.51 million, a PE ratio of 78.60 and a beta of 1.52.

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

Algoma Steel Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.20 annualized dividend and a yield of 2.52%. Algoma Steel Group’s dividend payout ratio (DPR) is currently 200.00%.

Institutional Investors Weigh In On Algoma Steel Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new stake in shares of Algoma Steel Group in the fourth quarter valued at approximately $114,000. GSA Capital Partners LLP grew its position in Algoma Steel Group by 49.1% in the fourth quarter. GSA Capital Partners LLP now owns 48,320 shares of the company’s stock worth $485,000 after acquiring an additional 15,922 shares during the period. Legal & General Group Plc grew its position in Algoma Steel Group by 5.1% in the fourth quarter. Legal & General Group Plc now owns 76,209 shares of the company’s stock worth $769,000 after acquiring an additional 3,700 shares during the period. Barclays PLC grew its position in Algoma Steel Group by 11.6% in the fourth quarter. Barclays PLC now owns 25,939 shares of the company’s stock worth $260,000 after acquiring an additional 2,704 shares during the period. Finally, Nuveen Asset Management LLC purchased a new position in Algoma Steel Group in the fourth quarter worth approximately $710,000. Institutional investors and hedge funds own 72.00% of the company’s stock.

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.