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

Boston Partners reduced its stake in Algoma Steel Group Inc. (NASDAQ:ASTL) by 57.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,316 shares of the company’s stock after selling 96,661 shares during the period. Boston Partners owned approximately 0.07% of Algoma Steel Group worth $688,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its holdings in Algoma Steel Group by 4.0% in the 4th quarter. Van ECK Associates Corp now owns 103,555 shares of the company’s stock valued at $1,013,000 after purchasing an additional 3,944 shares in the last quarter. HITE Hedge Asset Management LLC increased its holdings in Algoma Steel Group by 7.9% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 92,646 shares of the company’s stock valued at $948,000 after purchasing an additional 6,803 shares in the last quarter. Wexford Capital LP acquired a new stake in Algoma Steel Group in the 3rd quarter valued at $107,000. XTX Topco Ltd grew its stake in shares of Algoma Steel Group by 132.8% during the third quarter. XTX Topco Ltd now owns 24,433 shares of the company’s stock valued at $250,000 after acquiring an additional 13,937 shares in the last quarter. Finally, Corient Private Wealth LLC acquired a new stake in shares of Algoma Steel Group during the fourth quarter valued at about $147,000. 72.00% of the stock is currently owned by institutional investors and hedge funds.

Algoma Steel Group Stock Down 2.5 %

Shares of Algoma Steel Group stock opened at $6.15 on Friday. The business has a 50-day moving average of $7.58 and a 200-day moving average of $9.26. 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 company has a market capitalization of $645.04 million, a PE ratio of -4.84 and a beta of 1.47. Algoma Steel Group Inc. has a 1-year low of $5.20 and a 1-year high of $12.14.

Algoma Steel Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 21st will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, March 21st. This represents a $0.20 annualized dividend and a dividend yield of 3.25%. 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.