Intact Investment Management Inc. Sells 123,700 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

Intact Investment Management Inc. reduced its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 9.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,174,900 shares of the company’s stock after selling 123,700 shares during the period. Intact Investment Management Inc.’s holdings in Algoma Steel Group were worth $11,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Van ECK Associates Corp lifted its holdings in shares of Algoma Steel Group by 4.0% during the fourth quarter. Van ECK Associates Corp now owns 103,555 shares of the company’s stock valued at $1,013,000 after purchasing an additional 3,944 shares in the last quarter. HITE Hedge Asset Management LLC lifted its holdings in shares of Algoma Steel Group by 7.9% during the third quarter. HITE Hedge Asset Management LLC now owns 92,646 shares of the company’s stock valued at $948,000 after purchasing an additional 6,803 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Algoma Steel Group by 23.5% during the third quarter. GSA Capital Partners LLP now owns 44,757 shares of the company’s stock valued at $458,000 after purchasing an additional 8,502 shares in the last quarter. Wexford Capital LP bought a new position in shares of Algoma Steel Group during the third quarter valued at $107,000. Finally, XTX Topco Ltd lifted its holdings in shares of Algoma Steel Group by 132.8% during 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. 72.00% of the stock is owned by institutional investors.

Algoma Steel Group Stock Up 7.2 %

Algoma Steel Group stock opened at $6.24 on Friday. The stock has a market cap of $654.48 million, a PE ratio of -4.91 and a beta of 1.48. 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 Inc. has a one year low of $5.20 and a one year high of $12.14. The stock has a fifty day moving average of $7.84 and a 200 day moving average of $9.43.

Algoma Steel Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, March 21st will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Friday, March 21st. Algoma Steel Group’s dividend payout ratio (DPR) is presently -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.