Renaissance Technologies LLC Has $878,000 Stock Holdings in Algoma Steel Group Inc. (NASDAQ:ASTL)

Renaissance Technologies LLC increased its position in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 106.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 126,133 shares of the company’s stock after purchasing an additional 65,133 shares during the quarter. Renaissance Technologies LLC owned approximately 0.12% of Algoma Steel Group worth $878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CIBC Asset Management Inc raised its position in shares of Algoma Steel Group by 5.8% in the second quarter. CIBC Asset Management Inc now owns 103,334 shares of the company’s stock valued at $716,000 after purchasing an additional 5,674 shares during the period. Swiss National Bank increased its stake in Algoma Steel Group by 6.1% in the 1st quarter. Swiss National Bank now owns 196,107 shares of the company’s stock worth $1,672,000 after purchasing an additional 11,300 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Algoma Steel Group in the fourth quarter valued at about $114,000. Boston Partners increased its stake in shares of Algoma Steel Group by 125.2% during the first quarter. Boston Partners now owns 62,137 shares of the company’s stock valued at $528,000 after buying an additional 34,548 shares during the period. Finally, Bracebridge Capital LLC grew its holdings in shares of Algoma Steel Group by 11.4% during the 1st quarter. Bracebridge Capital LLC now owns 487,931 shares of the company’s stock worth $4,143,000 after acquiring an additional 50,000 shares during the period. Hedge funds and other institutional investors own 72.00% of the company’s stock.

Algoma Steel Group Stock Up 0.4 %

Shares of Algoma Steel Group stock opened at $10.01 on Tuesday. The company has a 50-day moving average of $9.80 and a 200 day moving average of $8.50. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 32.29 and a beta of 1.50. Algoma Steel Group Inc. has a 1 year low of $6.40 and a 1 year high of $10.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.19 and a quick ratio of 2.15.

Algoma Steel Group (NASDAQ:ASTL) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. Algoma Steel Group had a negative return on equity of 1.23% and a negative net margin of 0.72%. The firm had revenue of $475.44 million for the quarter, compared to the consensus estimate of $444.32 million. As a group, sell-side analysts anticipate that Algoma Steel Group Inc. will post -0.72 earnings per share for the current fiscal year.

Algoma Steel Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 23rd were given a $0.05 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.20 annualized dividend and a yield of 2.00%. Algoma Steel Group’s payout ratio is presently 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.