TCW Group Inc. Cuts Stake in Algoma Steel Group Inc. (NASDAQ:ASTL)

TCW Group Inc. reduced its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 16.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,588,621 shares of the company’s stock after selling 301,614 shares during the period. TCW Group Inc. owned 1.51% of Algoma Steel Group worth $15,537,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ASTL. FMR LLC purchased a new position in Algoma Steel Group in the third quarter valued at approximately $36,008,000. Intact Investment Management Inc. raised its holdings in Algoma Steel Group by 6.6% in the third quarter. Intact Investment Management Inc. now owns 1,298,600 shares of the company’s stock valued at $13,309,000 after buying an additional 80,700 shares during the period. Yaupon Capital Management LP purchased a new position in Algoma Steel Group in the third quarter valued at approximately $9,165,000. Invenomic Capital Management LP raised its holdings in Algoma Steel Group by 112.1% in the third quarter. Invenomic Capital Management LP now owns 636,917 shares of the company’s stock valued at $6,516,000 after buying an additional 336,687 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Algoma Steel Group by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 357,367 shares of the company’s stock valued at $3,656,000 after buying an additional 49,642 shares during the period. 72.00% of the stock is currently owned by hedge funds and other institutional investors.

Algoma Steel Group Trading Down 2.8 %

NASDAQ ASTL opened at $7.57 on Friday. Algoma Steel Group Inc. has a one year low of $6.67 and a one year high of $12.14. The company’s 50 day moving average price is $8.70 and its 200 day moving average price is $9.69. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 3.31. The firm has a market capitalization of $793.97 million, a price-to-earnings ratio of -5.96 and a beta of 1.46.

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.