Wolf Hill Capital Management LP Reduces Position in Algoma Steel Group Inc. (NASDAQ:ASTL)

Wolf Hill Capital Management LP reduced its stake in Algoma Steel Group Inc. (NASDAQ:ASTL) by 44.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 498,340 shares of the company’s stock after selling 400,000 shares during the quarter. Algoma Steel Group comprises approximately 0.3% of Wolf Hill Capital Management LP’s portfolio, making the stock its 23rd biggest holding. Wolf Hill Capital Management LP’s holdings in Algoma Steel Group were worth $3,468,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in ASTL. MMCAP International Inc. SPC lifted its holdings in Algoma Steel Group by 152.2% in the 1st quarter. MMCAP International Inc. SPC now owns 7,789,470 shares of the company’s stock valued at $66,133,000 after purchasing an additional 4,700,510 shares in the last quarter. Thomist Capital Management LP lifted its stake in shares of Algoma Steel Group by 100.3% during the first quarter. Thomist Capital Management LP now owns 5,007,597 shares of the company’s stock valued at $42,514,000 after buying an additional 2,508,133 shares during the period. Yaupon Capital Management LP acquired a new stake in Algoma Steel Group during the first quarter worth approximately $7,663,000. CastleKnight Management LP grew its stake in Algoma Steel Group by 123.0% in the 4th quarter. CastleKnight Management LP now owns 345,500 shares of the company’s stock worth $3,465,000 after acquiring an additional 190,600 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Algoma Steel Group by 63.1% in the 1st quarter. Russell Investments Group Ltd. now owns 409,658 shares of the company’s stock valued at $3,485,000 after acquiring an additional 158,526 shares during the last quarter. Institutional investors and hedge funds own 72.00% of the company’s stock.

Algoma Steel Group Trading Down 2.0 %

Shares of Algoma Steel Group stock opened at $9.76 on Friday. The firm has a market cap of $1.02 billion, a PE ratio of 31.48 and a beta of 1.50. The company has a quick ratio of 2.15, a current ratio of 4.19 and a debt-to-equity ratio of 0.39. Algoma Steel Group Inc. has a fifty-two week low of $6.34 and a fifty-two week high of $10.71. The business’s fifty day moving average is $9.51 and its two-hundred day moving average is $8.33.

Algoma Steel Group (NASDAQ:ASTL) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.04. The company had revenue of $475.44 million during the quarter, compared to analysts’ expectations of $444.32 million. Algoma Steel Group had a negative return on equity of 1.23% and a negative net margin of 0.72%. Analysts anticipate that Algoma Steel Group Inc. will post -0.72 earnings per share for the current year.

Algoma Steel Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 23rd will be given 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 64.52%.

Algoma Steel Group Company 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.