Algoma Steel Group Inc. (NASDAQ:ASTL) Short Interest Update

Algoma Steel Group Inc. (NASDAQ:ASTL) saw a significant decline in short interest in December. As of December 15th, there was short interest totalling 4,210,000 shares, a decline of 7.1% from the November 30th total of 4,530,000 shares. Based on an average daily volume of 530,900 shares, the days-to-cover ratio is currently 7.9 days.

Algoma Steel Group Stock Up 1.1 %

Shares of NASDAQ ASTL traded up $0.11 on Wednesday, hitting $9.78. The company had a trading volume of 262,769 shares, compared to its average volume of 566,401. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42. Algoma Steel Group has a 12-month low of $6.67 and a 12-month high of $12.14. The firm has a market capitalization of $1.02 billion, a P/E ratio of -7.70 and a beta of 1.47. The business has a 50 day moving average of $10.44 and a two-hundred day moving average of $9.57.

Algoma Steel Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Wednesday, November 27th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Wednesday, November 27th. Algoma Steel Group’s dividend payout ratio is presently -15.75%.

Institutional Trading of Algoma Steel Group

Large investors have recently bought and sold shares of the company. CIBC Asset Management Inc lifted its holdings in Algoma Steel Group by 5.8% in the 2nd quarter. CIBC Asset Management Inc now owns 103,334 shares of the company’s stock worth $716,000 after buying an additional 5,674 shares in the last quarter. American Century Companies Inc. increased its position in shares of Algoma Steel Group by 89.9% during the second quarter. American Century Companies Inc. now owns 308,543 shares of the company’s stock worth $2,140,000 after acquiring an additional 146,104 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Algoma Steel Group in the second quarter worth about $939,000. Renaissance Technologies LLC boosted its holdings in Algoma Steel Group by 106.8% in the second quarter. Renaissance Technologies LLC now owns 126,133 shares of the company’s stock valued at $878,000 after purchasing an additional 65,133 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Algoma Steel Group during the 2nd quarter valued at approximately $73,000. Institutional investors and hedge funds own 72.00% of the company’s stock.

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.