Algoma Steel Group Inc. (NASDAQ:ASTL) Short Interest Update

Algoma Steel Group Inc. (NASDAQ:ASTL) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 4,750,000 shares, a growth of 8.9% from the October 31st total of 4,360,000 shares. Based on an average daily trading volume, of 626,600 shares, the short-interest ratio is presently 7.6 days.

Institutional Trading of Algoma Steel Group

A number of hedge funds have recently made changes to their positions in ASTL. Boston Partners increased its position in 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 buying an additional 34,548 shares in the last quarter. Intact Investment Management Inc. raised its position in shares of Algoma Steel Group by 7.2% in the 2nd quarter. Intact Investment Management Inc. now owns 1,217,900 shares of the company’s stock worth $8,448,000 after purchasing an additional 81,700 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Algoma Steel Group by 5.8% in the 2nd quarter. CIBC Asset Management Inc now owns 103,334 shares of the company’s stock worth $716,000 after purchasing an additional 5,674 shares in the last quarter. American Century Companies Inc. grew its position in Algoma Steel Group by 89.9% during the 2nd quarter. American Century Companies Inc. now owns 308,543 shares of the company’s stock valued at $2,140,000 after purchasing an additional 146,104 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in Algoma Steel Group during the 2nd quarter valued at about $939,000. 72.00% of the stock is owned by institutional investors.

Algoma Steel Group Trading Down 0.6 %

ASTL stock traded down $0.07 during trading on Monday, reaching $10.70. The company had a trading volume of 60,154 shares, compared to its average volume of 574,977. The business has a 50 day moving average of $10.47 and a 200 day moving average of $9.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.31 and a quick ratio of 1.66. The company has a market cap of $1.12 billion, a P/E ratio of -8.43 and a beta of 1.49. Algoma Steel Group has a 52 week low of $6.67 and a 52 week high of $12.14.

Algoma Steel Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Wednesday, November 27th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.87%. Algoma Steel Group’s dividend payout ratio is presently -15.75%.

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.