Algoma Steel Group Inc. (NASDAQ:ASTL) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC cut its position in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 8.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,000 shares of the company’s stock after selling 5,000 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.05% of Algoma Steel Group worth $563,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. MMCAP International Inc. SPC increased its stake in Algoma Steel Group by 152.2% in the first quarter. MMCAP International Inc. SPC now owns 7,789,470 shares of the company’s stock valued at $66,133,000 after purchasing an additional 4,700,510 shares during the last quarter. Yaupon Capital Management LP purchased a new position in shares of Algoma Steel Group during the 1st quarter worth about $7,663,000. Russell Investments Group Ltd. lifted its holdings in shares of Algoma Steel Group by 63.1% during the 1st quarter. Russell Investments Group Ltd. now owns 409,658 shares of the company’s stock worth $3,485,000 after acquiring an additional 158,526 shares during the period. American Century Companies Inc. boosted its holdings in shares of Algoma Steel Group by 89.9% in the 2nd quarter. American Century Companies Inc. now owns 308,543 shares of the company’s stock valued at $2,140,000 after purchasing an additional 146,104 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new position in shares of Algoma Steel Group in the 1st quarter valued at $1,229,000. Institutional investors and hedge funds own 72.00% of the company’s stock.

Algoma Steel Group Trading Up 6.4 %

ASTL stock opened at $12.01 on Friday. The company has a quick ratio of 2.15, a current ratio of 4.19 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -32.46 and a beta of 1.49. The business has a fifty day simple moving average of $10.19 and a 200-day simple moving average of $8.83. Algoma Steel Group Inc. has a 52 week low of $6.67 and a 52 week high of $12.14.

Algoma Steel Group (NASDAQ:ASTL) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.04. The company had revenue of $475.44 million during the quarter, compared to analyst estimates of $444.32 million. Algoma Steel Group had a negative return on equity of 1.23% and a negative net margin of 0.72%. On average, equities research analysts expect that Algoma Steel Group Inc. will post -0.58 EPS for the current 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 dividend of $0.05 per share. The ex-dividend date was Friday, August 23rd. This represents a $0.20 dividend on an annualized basis and a yield of 1.67%. Algoma Steel Group’s dividend payout ratio (DPR) is -54.05%.

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.