Quadrature Capital Ltd Makes New Investment in Algoma Steel Group Inc. (NASDAQ:ASTL)

Quadrature Capital Ltd purchased a new stake in Algoma Steel Group Inc. (NASDAQ:ASTL) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,352 shares of the company’s stock, valued at approximately $114,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Tower Research Capital LLC TRC raised its holdings in Algoma Steel Group by 148.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,976 shares of the company’s stock valued at $90,000 after acquiring an additional 5,357 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Algoma Steel Group in the 4th quarter valued at $126,000. McAdam LLC purchased a new stake in shares of Algoma Steel Group during the 4th quarter worth $161,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Algoma Steel Group by 47.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,329 shares of the company’s stock worth $194,000 after purchasing an additional 6,236 shares during the last quarter. Finally, EJF Capital LLC grew its stake in shares of Algoma Steel Group by 35.0% during the third quarter. EJF Capital LLC now owns 36,458 shares of the company’s stock worth $248,000 after purchasing an additional 9,458 shares in the last quarter. Hedge funds and other institutional investors own 72.00% of the company’s stock.

Algoma Steel Group Stock Up 0.6 %

Algoma Steel Group stock opened at $6.96 on Friday. The stock has a market cap of $724.70 million, a PE ratio of 22.45 and a beta of 1.51. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.88 and a quick ratio of 0.98. The stock’s fifty day moving average is $7.60 and its two-hundred day moving average is $8.23. Algoma Steel Group Inc. has a 1-year low of $6.34 and a 1-year high of $10.25.

Algoma Steel Group (NASDAQ:ASTL) last issued its earnings results on Saturday, June 22nd. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.08. The business had revenue of $460.35 million for the quarter, compared to analyst estimates of $439.82 million. Algoma Steel Group had a return on equity of 6.97% and a net margin of 3.81%. During the same quarter last year, the company earned ($0.14) EPS. On average, sell-side analysts expect that Algoma Steel Group Inc. will post -0.25 EPS for the current fiscal year.

Algoma Steel Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Tuesday, July 2nd will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Tuesday, July 2nd. Algoma Steel Group’s payout ratio is 64.52%.

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.