Charles Schwab Investment Management Inc. Reduces Stock Position in Algoma Steel Group Inc. (NASDAQ:ASTL)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 8.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 411,500 shares of the company’s stock after selling 38,207 shares during the period. Charles Schwab Investment Management Inc. owned 0.39% of Algoma Steel Group worth $4,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in ASTL. FMR LLC acquired a new stake in shares of Algoma Steel Group during the 3rd quarter worth about $36,008,000. Assenagon Asset Management S.A. acquired a new stake in Algoma Steel Group during the fourth quarter worth approximately $1,248,000. JPMorgan Chase & Co. raised its holdings in Algoma Steel Group by 16.1% during the third quarter. JPMorgan Chase & Co. now owns 357,367 shares of the company’s stock worth $3,656,000 after purchasing an additional 49,642 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of Algoma Steel Group during the 3rd quarter worth approximately $390,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Algoma Steel Group by 38.4% in the 3rd quarter. Geode Capital Management LLC now owns 150,861 shares of the company’s stock valued at $1,545,000 after buying an additional 41,835 shares in the last quarter. 72.00% of the stock is owned by institutional investors and hedge funds.

Algoma Steel Group Trading Down 3.3 %

NASDAQ ASTL opened at $5.94 on Thursday. The firm’s fifty day moving average price is $7.45 and its 200 day moving average price is $9.17. Algoma Steel Group Inc. has a 12 month low of $5.20 and a 12 month high of $12.14. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.31 and a quick ratio of 1.66. The company has a market capitalization of $623.01 million, a price-to-earnings ratio of -4.68 and a beta of 1.47.

Algoma Steel Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Friday, March 21st. Algoma Steel Group’s payout ratio is -17.54%.

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.