Heartland Advisors Inc. Raises Holdings in Algoma Steel Group Inc. (NASDAQ:ASTL)

Heartland Advisors Inc. lifted its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 100.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 200,000 shares of the company’s stock after buying an additional 100,000 shares during the quarter. Heartland Advisors Inc. owned approximately 0.19% of Algoma Steel Group worth $1,956,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. FMR LLC acquired a new position in Algoma Steel Group during the 3rd quarter worth approximately $36,008,000. Assenagon Asset Management S.A. purchased a new position in Algoma Steel Group in the fourth quarter valued at approximately $1,248,000. JPMorgan Chase & Co. grew its position in shares of Algoma Steel Group by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 357,367 shares of the company’s stock valued at $3,656,000 after buying an additional 49,642 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of Algoma Steel Group during the third quarter worth approximately $390,000. Finally, Geode Capital Management LLC increased its holdings in shares of Algoma Steel Group by 38.4% in the 3rd quarter. Geode Capital Management LLC now owns 150,861 shares of the company’s stock valued at $1,545,000 after acquiring an additional 41,835 shares during the period. 72.00% of the stock is currently owned by hedge funds and other institutional investors.

Algoma Steel Group Stock Down 1.4 %

Shares of NASDAQ:ASTL opened at $5.71 on Friday. Algoma Steel Group Inc. has a 1-year low of $5.20 and a 1-year high of $12.14. 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 stock has a market cap of $598.89 million, a P/E ratio of -4.50 and a beta of 1.47. The firm has a fifty day moving average price of $7.35 and a 200 day moving average price of $9.11.

Algoma Steel Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, March 21st will be issued 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 currently -17.54%.

Algoma Steel Group 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.