Algoma Steel Group (NASDAQ:ASTL) Stock Price Down 4.8% – What’s Next?

Shares of Algoma Steel Group Inc. (NASDAQ:ASTL) fell 4.8% during trading on Monday . The stock traded as low as $6.25 and last traded at $6.24. 132,116 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 619,517 shares. The stock had previously closed at $6.55.

Algoma Steel Group Price Performance

The firm’s fifty day moving average price is $7.70 and its 200 day moving average price is $9.34. The firm has a market capitalization of $666.01 million, a PE ratio of -5.00 and a beta of 1.47. The company has a current ratio of 3.31, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42.

Algoma Steel Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 21st will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, March 21st. Algoma Steel Group’s dividend payout ratio (DPR) is currently -17.54%.

Institutional Trading of Algoma Steel Group

Large investors have recently made changes to their positions in the business. Aquatic Capital Management LLC acquired a new position in shares of Algoma Steel Group in the 4th quarter valued at $64,000. Wexford Capital LP acquired a new position in shares of Algoma Steel Group in the 3rd quarter valued at $107,000. Squarepoint Ops LLC acquired a new position in shares of Algoma Steel Group in the 4th quarter valued at $114,000. Two Sigma Advisers LP acquired a new position in shares of Algoma Steel Group in the 4th quarter valued at $117,000. Finally, Corient Private Wealth LLC acquired a new position in shares of Algoma Steel Group in the 4th quarter valued at $147,000. 72.00% of the stock is owned by hedge funds and other 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.