Investors Purchase Large Volume of Algoma Steel Group Call Options (NASDAQ:ASTL)

Algoma Steel Group Inc. (NASDAQ:ASTL) was the recipient of some unusual options trading on Tuesday. Stock investors bought 10,025 call options on the stock. This represents an increase of approximately 1,591% compared to the average daily volume of 593 call options.

Algoma Steel Group Trading Down 0.9 %

Algoma Steel Group stock opened at $10.12 on Thursday. The stock has a 50-day moving average of $9.61 and a two-hundred day moving average of $8.38. The stock has a market cap of $1.05 billion, a PE ratio of 32.65 and a beta of 1.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.15 and a current ratio of 4.19. Algoma Steel Group has a one year low of $6.34 and a one year high of $10.71.

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

Algoma Steel Group Dividend Announcement

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 1.98%. The ex-dividend date is Friday, August 23rd. Algoma Steel Group’s dividend payout ratio is currently 64.52%.

Institutional Investors Weigh In On Algoma Steel Group

Several hedge funds have recently bought and sold shares of the stock. Clayton Partners LLC purchased a new position in shares of Algoma Steel Group during the 2nd quarter valued at approximately $73,000. XTX Topco Ltd acquired a new stake in shares of Algoma Steel Group in the second quarter valued at about $73,000. Quadrature Capital Ltd purchased a new stake in shares of Algoma Steel Group during the fourth quarter worth about $114,000. Victory Capital Management Inc. acquired a new position in shares of Algoma Steel Group during the 4th quarter worth about $126,000. Finally, Boston Partners lifted its stake in Algoma Steel Group by 125.2% in the 1st quarter. Boston Partners now owns 62,137 shares of the company’s stock valued at $528,000 after buying an additional 34,548 shares in the last quarter. Hedge funds and other institutional investors own 72.00% of the company’s stock.

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.