Charles Schwab Investment Management Inc. Sells 39,071 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

Charles Schwab Investment Management Inc. trimmed its position in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 8.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 449,707 shares of the company’s stock after selling 39,071 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.43% of Algoma Steel Group worth $4,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. XTX Topco Ltd bought a new position in shares of Algoma Steel Group during the 2nd quarter valued at $73,000. Clayton Partners LLC bought a new position in Algoma Steel Group in the 2nd quarter worth $73,000. Net Worth Advisory Group bought a new position in Algoma Steel Group in the 3rd quarter worth $159,000. DekaBank Deutsche Girozentrale raised its holdings in Algoma Steel Group by 13.3% in the 3rd 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 period. Finally, GSA Capital Partners LLP raised its holdings in Algoma Steel Group by 23.5% in the 3rd quarter. GSA Capital Partners LLP now owns 44,757 shares of the company’s stock worth $458,000 after purchasing an additional 8,502 shares during the period. 72.00% of the stock is owned by institutional investors.

Algoma Steel Group Price Performance

Shares of Algoma Steel Group stock opened at $10.08 on Friday. Algoma Steel Group Inc. has a one year low of $6.67 and a one year high of $12.14. The stock’s fifty day moving average is $10.50 and its 200 day moving average is $9.35. The stock has a market cap of $1.06 billion, a P/E ratio of -7.94 and a beta of 1.47. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.98%. Algoma Steel Group’s payout ratio is -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.