Clayton Partners LLC Invests $73,000 in Algoma Steel Group Inc. (NASDAQ:ASTL)

Clayton Partners LLC acquired a new stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,482 shares of the company’s stock, valued at approximately $73,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in Algoma Steel Group in the second quarter worth about $73,000. Renaissance Technologies LLC grew its stake in shares of Algoma Steel Group by 106.8% during the 2nd quarter. Renaissance Technologies LLC now owns 126,133 shares of the company’s stock valued at $878,000 after acquiring an additional 65,133 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Algoma Steel Group in the 2nd quarter worth approximately $939,000. American Century Companies Inc. raised its stake in Algoma Steel Group by 89.9% during the 2nd quarter. American Century Companies Inc. now owns 308,543 shares of the company’s stock worth $2,140,000 after acquiring an additional 146,104 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in Algoma Steel Group by 5.8% during the second quarter. CIBC Asset Management Inc now owns 103,334 shares of the company’s stock valued at $716,000 after purchasing an additional 5,674 shares in the last quarter. 72.00% of the stock is currently owned by hedge funds and other institutional investors.

Algoma Steel Group Stock Performance

ASTL opened at $9.76 on Friday. The company has a 50 day simple moving average of $9.51 and a two-hundred day simple moving average of $8.33. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.19 and a quick ratio of 2.15. The firm has a market cap of $1.02 billion, a P/E ratio of 31.48 and a beta of 1.50. Algoma Steel Group Inc. has a 1-year low of $6.34 and a 1-year high of $10.71.

Algoma Steel Group (NASDAQ:ASTL) last issued its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share 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 the consensus estimate of $444.32 million. Algoma Steel Group had a negative net margin of 0.72% and a negative return on equity of 1.23%. Equities analysts forecast that Algoma Steel Group Inc. will post -0.72 earnings per share for the current fiscal year.

Algoma Steel Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 23rd will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.05%. The ex-dividend date is Friday, August 23rd. Algoma Steel Group’s dividend payout ratio (DPR) is presently 64.52%.

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.