Geode Capital Management LLC Acquires 41,835 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

Geode Capital Management LLC boosted its holdings in Algoma Steel Group Inc. (NASDAQ:ASTL) by 38.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,861 shares of the company’s stock after purchasing an additional 41,835 shares during the period. Geode Capital Management LLC owned about 0.14% of Algoma Steel Group worth $1,545,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Barclays PLC boosted its holdings in shares of Algoma Steel Group by 147.1% in the 3rd quarter. Barclays PLC now owns 25,711 shares of the company’s stock worth $263,000 after buying an additional 15,305 shares during the last quarter. XTX Topco Ltd boosted its stake in Algoma Steel Group by 132.8% in the third quarter. XTX Topco Ltd now owns 24,433 shares of the company’s stock valued at $250,000 after acquiring an additional 13,937 shares during the last quarter. Yaupon Capital Management LP bought a new position in shares of Algoma Steel Group during the 3rd quarter valued at approximately $9,165,000. Wexford Capital LP bought a new position in shares of Algoma Steel Group during the 3rd quarter valued at approximately $107,000. Finally, Weiss Asset Management LP purchased a new stake in shares of Algoma Steel Group during the 3rd quarter worth approximately $665,000. 72.00% of the stock is owned by hedge funds and other institutional investors.

Algoma Steel Group Price Performance

Algoma Steel Group stock opened at $8.33 on Thursday. The business’s 50 day simple moving average is $10.31 and its 200 day simple moving average is $9.63. Algoma Steel Group Inc. has a 12 month low of $6.67 and a 12 month high of $12.14. The company has a market cap of $872.33 million, a price-to-earnings ratio of -6.56 and a beta of 1.49. The company has a current ratio of 3.31, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42.

Algoma Steel Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Wednesday, November 27th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.40%. 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.