Swiss National Bank Sells 9,300 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

Swiss National Bank trimmed its position in Algoma Steel Group Inc. (NASDAQ:ASTL) by 4.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 185,207 shares of the company’s stock after selling 9,300 shares during the period. Swiss National Bank owned 0.18% of Algoma Steel Group worth $1,813,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of ASTL. FMR LLC bought a new position in Algoma Steel Group in the third quarter valued at about $36,008,000. Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in Algoma Steel Group by 1.0% in the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 2,179,362 shares of the company’s stock valued at $21,320,000 after buying an additional 22,049 shares during the last quarter. Yaupon Capital Management LP bought a new position in Algoma Steel Group in the 3rd quarter valued at approximately $9,165,000. Invenomic Capital Management LP boosted its position in Algoma Steel Group by 112.1% during the 3rd quarter. Invenomic Capital Management LP now owns 636,917 shares of the company’s stock worth $6,516,000 after buying an additional 336,687 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Algoma Steel Group by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 357,367 shares of the company’s stock worth $3,656,000 after acquiring an additional 49,642 shares during the last quarter. Institutional investors and hedge funds own 72.00% of the company’s stock.

Algoma Steel Group Trading Down 1.4 %

Shares of NASDAQ ASTL opened at $5.71 on Friday. The stock has a market cap of $598.89 million, a P/E ratio of -4.50 and a beta of 1.47. The firm has a 50 day moving average price of $7.35 and a two-hundred day moving average price of $9.11. 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 Inc. has a 52-week low of $5.20 and a 52-week high of $12.14.

Algoma Steel Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, March 21st will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Friday, March 21st. Algoma Steel Group’s dividend payout ratio is currently -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.