Yaupon Capital Management LP Takes Position in Algoma Steel Group Inc. (NASDAQ:ASTL)

Yaupon Capital Management LP purchased a new position in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 895,906 shares of the company’s stock, valued at approximately $9,165,000. Yaupon Capital Management LP owned 0.86% of Algoma Steel Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ASTL. FMR LLC purchased a new position in shares of Algoma Steel Group during the 3rd quarter worth approximately $36,008,000. Intact Investment Management Inc. raised its position in Algoma Steel Group by 6.6% in the third quarter. Intact Investment Management Inc. now owns 1,298,600 shares of the company’s stock worth $13,309,000 after acquiring an additional 80,700 shares in the last quarter. Invenomic Capital Management LP lifted its holdings in Algoma Steel Group by 112.1% in the third quarter. Invenomic Capital Management LP now owns 636,917 shares of the company’s stock valued at $6,516,000 after acquiring an additional 336,687 shares during the period. Bank of Montreal Can lifted its holdings in Algoma Steel Group by 1.7% in the second quarter. Bank of Montreal Can now owns 364,422 shares of the company’s stock valued at $2,536,000 after acquiring an additional 6,154 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Algoma Steel Group by 89.9% during the 2nd quarter. American Century Companies Inc. now owns 308,543 shares of the company’s stock worth $2,140,000 after purchasing an additional 146,104 shares in the last quarter. 72.00% of the stock is currently owned by hedge funds and other institutional investors.

Algoma Steel Group Stock Performance

Shares of ASTL opened at $10.15 on Friday. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42. The company has a 50-day simple moving average of $10.49 and a 200-day simple moving average of $9.29. Algoma Steel Group Inc. has a 52-week low of $6.67 and a 52-week high of $12.14. The company has a market capitalization of $1.06 billion, a PE ratio of -7.99 and a beta of 1.47.

Algoma Steel Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Wednesday, November 27th will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 annualized dividend and a dividend yield of 1.97%. 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.