JPMorgan Chase & Co. Grows Position in Algoma Steel Group Inc. (NASDAQ:ASTL)

JPMorgan Chase & Co. increased its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 16.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 357,367 shares of the company’s stock after acquiring an additional 49,642 shares during the quarter. JPMorgan Chase & Co. owned about 0.34% of Algoma Steel Group worth $3,656,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC boosted its stake in Algoma Steel Group by 147.1% during the third quarter. Barclays PLC now owns 25,711 shares of the company’s stock valued at $263,000 after buying an additional 15,305 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Algoma Steel Group by 38.4% during the 3rd quarter. Geode Capital Management LLC now owns 150,861 shares of the company’s stock valued at $1,545,000 after acquiring an additional 41,835 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of 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 purchasing an additional 13,937 shares in the last quarter. Yaupon Capital Management LP purchased a new position in shares of Algoma Steel Group in the third quarter valued at $9,165,000. Finally, Wexford Capital LP bought a new stake in Algoma Steel Group in the third quarter worth $107,000. 72.00% of the stock is owned by hedge funds and other institutional investors.

Algoma Steel Group Price Performance

ASTL stock opened at $8.32 on Friday. Algoma Steel Group Inc. has a 52 week low of $6.67 and a 52 week high of $12.14. The firm has a market capitalization of $872.44 million, a P/E ratio of -6.55 and a beta of 1.49. The company has a fifty day simple moving average of $9.93 and a two-hundred day simple moving average of $9.70. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42.

Algoma Steel Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Wednesday, November 27th were given a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.20 annualized dividend and a yield of 2.40%. Algoma Steel Group’s dividend payout ratio is currently -15.75%.

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.