Thomist Capital Management LP Reduces Stock Position in Algoma Steel Group Inc. (NASDAQ:ASTL)

Thomist Capital Management LP lowered its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,977,609 shares of the company’s stock after selling 29,988 shares during the quarter. Algoma Steel Group accounts for 12.8% of Thomist Capital Management LP’s investment portfolio, making the stock its 3rd largest holding. Thomist Capital Management LP owned 4.78% of Algoma Steel Group worth $34,644,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ASTL. Victory Capital Management Inc. purchased a new stake in Algoma Steel Group in the 4th quarter valued at about $126,000. Aigen Investment Management LP increased its position in shares of Algoma Steel Group by 79.4% during the fourth quarter. Aigen Investment Management LP now owns 48,993 shares of the company’s stock valued at $491,000 after acquiring an additional 21,687 shares during the last quarter. TCW Group Inc. lifted its holdings in Algoma Steel Group by 0.7% during the fourth quarter. TCW Group Inc. now owns 2,431,227 shares of the company’s stock worth $24,385,000 after acquiring an additional 18,000 shares during the period. MMCAP International Inc. SPC purchased a new position in Algoma Steel Group in the fourth quarter worth $30,364,000. Finally, CastleKnight Management LP grew its stake in Algoma Steel Group by 123.0% in the 4th quarter. CastleKnight Management LP now owns 345,500 shares of the company’s stock valued at $3,465,000 after purchasing an additional 190,600 shares during the period. 72.00% of the stock is owned by hedge funds and other institutional investors.

Algoma Steel Group Trading Down 1.9 %

NASDAQ ASTL opened at $9.94 on Thursday. The business’s fifty day moving average is $9.41 and its 200-day moving average is $8.31. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.19 and a quick ratio of 2.15. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 32.06 and a beta of 1.50. Algoma Steel Group Inc. has a one year low of $6.34 and a one year high of $10.71.

Algoma Steel Group (NASDAQ:ASTL) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.04. The business had revenue of $475.44 million for the quarter, compared to analyst estimates of $444.32 million. Algoma Steel Group had a negative net margin of 0.72% and a negative return on equity of 1.23%. Equities research analysts predict that Algoma Steel Group Inc. will post -0.72 EPS for the current year.

Algoma Steel Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 23rd will be paid a $0.05 dividend. The ex-dividend date is Friday, August 23rd. This represents a $0.20 annualized dividend and a yield of 2.01%. Algoma Steel Group’s payout ratio is 64.52%.

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.