Algoma Steel Group Inc. (NASDAQ:ASTL) Shares Sold by Boston Partners

Boston Partners trimmed its position in Algoma Steel Group Inc. (NASDAQ:ASTL) by 57.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 70,316 shares of the company’s stock after selling 96,661 shares during the period. Boston Partners’ holdings in Algoma Steel Group were worth $688,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. FMR LLC acquired a new position in Algoma Steel Group in the third quarter worth about $36,008,000. Scheer Rowlett & Associates Investment Management Ltd. grew its stake in Algoma Steel Group by 1.0% in the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 2,179,362 shares of the company’s stock worth $21,320,000 after purchasing an additional 22,049 shares in the last quarter. Yaupon Capital Management LP acquired a new position in Algoma Steel Group in the third quarter worth about $9,165,000. Invenomic Capital Management LP lifted 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 worth $6,516,000 after acquiring an additional 336,687 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted 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 worth $3,656,000 after acquiring an additional 49,642 shares during the last quarter. 72.00% of the stock is currently owned by institutional investors and hedge funds.

Algoma Steel Group Stock Performance

Shares of NASDAQ ASTL opened at $6.15 on Friday. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average price is $7.58 and its two-hundred day moving average price is $9.26. Algoma Steel Group Inc. has a 52-week low of $5.20 and a 52-week high of $12.14. The stock has a market capitalization of $645.04 million, a P/E ratio of -4.84 and a beta of 1.47.

Algoma Steel Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 21st will be issued a $0.05 dividend. The ex-dividend date is Friday, March 21st. This represents a $0.20 dividend on an annualized basis and a yield of 3.25%. Algoma Steel Group’s dividend payout ratio is currently -17.54%.

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.