GSA Capital Partners LLP Boosts Stake in Algoma Steel Group Inc. (NASDAQ:ASTL)

GSA Capital Partners LLP lifted its holdings in Algoma Steel Group Inc. (NASDAQ:ASTL) by 23.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,757 shares of the company’s stock after buying an additional 8,502 shares during the quarter. GSA Capital Partners LLP’s holdings in Algoma Steel Group were worth $458,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ASTL. Intact Investment Management Inc. raised its holdings in Algoma Steel Group by 6.6% during the third quarter. Intact Investment Management Inc. now owns 1,298,600 shares of the company’s stock worth $13,309,000 after purchasing an additional 80,700 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Algoma Steel Group by 13.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 21,188 shares of the company’s stock worth $217,000 after purchasing an additional 2,481 shares during the last quarter. Consolidated Portfolio Review Corp acquired a new position in Algoma Steel Group during the third quarter worth $1,382,000. Net Worth Advisory Group acquired a new position in Algoma Steel Group during the third quarter worth $159,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Algoma Steel Group by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 81,305 shares of the company’s stock worth $563,000 after purchasing an additional 1,621 shares during the last quarter. 72.00% of the stock is currently owned by hedge funds and other institutional investors.

Algoma Steel Group Stock Performance

Shares of ASTL stock opened at $11.25 on Thursday. The stock has a fifty day moving average price of $10.32 and a 200 day moving average price of $9.04. The stock has a market cap of $1.17 billion, a PE ratio of -8.95 and a beta of 1.49. Algoma Steel Group Inc. has a 1 year low of $6.67 and a 1 year high of $12.14. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 3.31.

Algoma Steel Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Wednesday, November 27th will be issued a dividend of $0.05 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.20 annualized dividend and a yield of 1.78%. Algoma Steel Group’s dividend payout ratio is presently -15.75%.

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.