Consolidated Portfolio Review Corp Buys New Position in Algoma Steel Group Inc. (NASDAQ:ASTL)

Consolidated Portfolio Review Corp purchased a new position in Algoma Steel Group Inc. (NASDAQ:ASTL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 135,071 shares of the company’s stock, valued at approximately $1,382,000. Consolidated Portfolio Review Corp owned about 0.13% of Algoma Steel Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its stake in Algoma Steel Group by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 81,305 shares of the company’s stock worth $563,000 after purchasing an additional 1,621 shares during the period. CIBC Asset Management Inc raised its position in Algoma Steel Group by 5.8% during the 2nd 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 during the last quarter. Bank of Montreal Can lifted its holdings in Algoma Steel Group by 1.7% in the 2nd quarter. Bank of Montreal Can now owns 364,422 shares of the company’s stock worth $2,536,000 after buying an additional 6,154 shares during the period. Clayton Partners LLC purchased a new position in shares of Algoma Steel Group during the second quarter valued at approximately $73,000. Finally, XTX Topco Ltd bought a new position in shares of Algoma Steel Group during the second quarter valued at approximately $73,000. Hedge funds and other institutional investors own 72.00% of the company’s stock.

Algoma Steel Group Trading Up 0.5 %

ASTL stock traded up $0.05 on Friday, reaching $9.78. The company’s stock had a trading volume of 179,702 shares, compared to its average volume of 563,355. 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 Inc. has a 12-month low of $6.67 and a 12-month high of $10.71. The firm has a market cap of $1.02 billion, a PE ratio of -26.43 and a beta of 1.50. The business has a fifty day simple moving average of $10.03 and a two-hundred day simple moving average of $8.66.

Algoma Steel Group (NASDAQ:ASTL) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.04. Algoma Steel Group had a negative net margin of 0.72% and a negative return on equity of 1.23%. The company had revenue of $475.44 million for the quarter, compared to analysts’ expectations of $444.32 million. As a group, research analysts forecast that Algoma Steel Group Inc. will post -0.58 EPS for the current year.

Algoma Steel Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend was Friday, August 23rd. Algoma Steel Group’s payout ratio is -54.05%.

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.