Algoma Steel Group Inc. (NASDAQ:ASTL) Shares Acquired by Heartland Advisors Inc.

Heartland Advisors Inc. increased its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 100.0% in the 4th quarter, HoldingsChannel reports. The firm owned 200,000 shares of the company’s stock after buying an additional 100,000 shares during the quarter. Heartland Advisors Inc.’s holdings in Algoma Steel Group were worth $1,956,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. American Century Companies Inc. increased its position in Algoma Steel Group by 3.2% during the fourth quarter. American Century Companies Inc. now owns 172,428 shares of the company’s stock worth $1,689,000 after buying an additional 5,296 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in Algoma Steel Group during the 4th quarter worth about $147,000. Scheer Rowlett & Associates Investment Management Ltd. raised its stake in Algoma Steel Group by 1.0% in the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 2,179,362 shares of the company’s stock valued at $21,320,000 after purchasing an additional 22,049 shares during the last quarter. Terril Brothers Inc. purchased a new position in Algoma Steel Group in the 4th quarter valued at about $214,000. Finally, CIBC Asset Management Inc boosted its stake in shares of Algoma Steel Group by 16.8% during the 4th quarter. CIBC Asset Management Inc now owns 118,602 shares of the company’s stock worth $1,159,000 after purchasing an additional 17,035 shares during the last quarter. 72.00% of the stock is currently owned by institutional investors and hedge funds.

Algoma Steel Group Stock Performance

NASDAQ:ASTL opened at $5.71 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.31 and a quick ratio of 1.66. The firm has a market cap of $598.89 million, a PE ratio of -4.50 and a beta of 1.47. The firm has a 50 day simple moving average of $7.35 and a 200-day simple moving average of $9.11. Algoma Steel Group Inc. has a 1-year low of $5.20 and a 1-year high of $12.14.

Algoma Steel Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 21st will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date is Friday, March 21st. Algoma Steel Group’s dividend payout ratio is presently -17.54%.

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.