Algoma Steel Group Inc. (NASDAQ:ASTL) Stock Holdings Lessened by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. decreased its position in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 9.3% in the second quarter, Holdings Channel.com reports. The firm owned 8,847,451 shares of the company’s stock after selling 910,947 shares during the period. Algoma Steel Group comprises 1.6% of Donald Smith & CO. Inc.’s holdings, making the stock its 26th largest holding. Donald Smith & CO. Inc. owned approximately 0.08% of Algoma Steel Group worth $61,578,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP acquired a new stake in shares of Algoma Steel Group in the 2nd quarter valued at $939,000. American Century Companies Inc. lifted its position in shares of Algoma Steel Group by 89.9% in the second quarter. American Century Companies Inc. now owns 308,543 shares of the company’s stock worth $2,140,000 after buying an additional 146,104 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Algoma Steel Group by 5.8% during the 2nd quarter. CIBC Asset Management Inc now owns 103,334 shares of the company’s stock worth $716,000 after acquiring an additional 5,674 shares in the last quarter. Intact Investment Management Inc. increased its holdings in shares of Algoma Steel Group by 7.2% during the 2nd quarter. Intact Investment Management Inc. now owns 1,217,900 shares of the company’s stock valued at $8,448,000 after acquiring an additional 81,700 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of Algoma Steel Group by 125.2% during the 1st quarter. Boston Partners now owns 62,137 shares of the company’s stock valued at $528,000 after acquiring an additional 34,548 shares during the last quarter. Institutional investors own 72.00% of the company’s stock.

Algoma Steel Group Stock Up 2.6 %

ASTL opened at $10.29 on Monday. The firm has a market cap of $1.07 billion, a P/E ratio of 33.19 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. The business has a 50 day moving average price of $9.23 and a 200 day moving average price of $8.26. Algoma Steel Group Inc. has a twelve month low of $6.34 and a twelve month high of $10.71.

Algoma Steel Group (NASDAQ:ASTL) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $475.44 million during the quarter, compared to analysts’ expectations of $444.32 million. Research analysts forecast that Algoma Steel Group Inc. will post -0.72 EPS for the current year.

Algoma Steel Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 23rd will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, August 23rd. Algoma Steel Group’s dividend payout ratio is currently 64.52%.

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.