21,679 Shares in Algoma Steel Group Inc. (NASDAQ:ASTL) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new position in Algoma Steel Group Inc. (NASDAQ:ASTL) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 21,679 shares of the company’s stock, valued at approximately $212,000.

Other large investors also recently bought and sold shares of the company. Aquatic Capital Management LLC bought a new stake in Algoma Steel Group in the 4th quarter worth about $64,000. Corient Private Wealth LLC bought a new stake in Algoma Steel Group in the 4th quarter worth about $147,000. Jump Financial LLC bought a new stake in Algoma Steel Group in the 4th quarter worth about $204,000. Wells Fargo & Company MN bought a new stake in Algoma Steel Group in the 4th quarter worth about $210,000. Finally, Terril Brothers Inc. bought a new stake in Algoma Steel Group in the 4th quarter worth about $214,000. 72.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ASTL has been the subject of several research analyst reports. Stifel Canada downgraded Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th. Royal Bank of Canada raised Algoma Steel Group to a “hold” rating in a research report on Tuesday, April 22nd.

Algoma Steel Group Trading Up 0.6%

Shares of NASDAQ:ASTL opened at $5.40 on Friday. The stock has a market capitalization of $566.64 million, a price-to-earnings ratio of -4.25 and a beta of 1.58. 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 stock’s 50-day simple moving average is $5.36 and its two-hundred day simple moving average is $7.68. Algoma Steel Group Inc. has a 52-week low of $4.17 and a 52-week high of $12.14.

Algoma Steel Group (NASDAQ:ASTL) last announced its earnings results on Tuesday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.36. The business had revenue of $359.30 million for the quarter, compared to analysts’ expectations of $327.56 million. Algoma Steel Group had a negative return on equity of 10.63% and a negative net margin of 6.30%. Analysts expect that Algoma Steel Group Inc. will post -0.63 EPS for the current year.

Algoma Steel Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th will be given a $0.05 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.20 annualized dividend and a yield of 3.70%. Algoma Steel Group’s payout ratio is -12.99%.

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.