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

Algoma Steel Group Inc. (NASDAQ:ASTL) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 3,760,000 shares, an increase of 14.6% from the August 15th total of 3,280,000 shares. Based on an average daily volume of 664,900 shares, the short-interest ratio is presently 5.7 days.

Algoma Steel Group Trading Down 1.0 %

Shares of ASTL stock opened at $10.19 on Tuesday. The firm has a market cap of $1.06 billion, a P/E ratio of 32.87 and a beta of 1.50. The business has a 50-day moving average price of $9.29 and a two-hundred day moving average price of $8.28. Algoma Steel Group has a 12-month low of $6.34 and a 12-month high of $10.71. The company has a quick ratio of 2.15, a current ratio of 4.19 and a debt-to-equity ratio of 0.39.

Algoma Steel Group (NASDAQ:ASTL) last issued its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $475.44 million for the quarter, compared to analysts’ expectations of $444.32 million. Equities analysts anticipate that Algoma Steel Group will post -0.72 EPS for the current fiscal year.

Algoma Steel Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 23rd will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.96%. Algoma Steel Group’s dividend payout ratio is presently 64.52%.

Institutional Investors Weigh In On Algoma Steel Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Clayton Partners LLC bought a new position in Algoma Steel Group in the second quarter worth about $73,000. XTX Topco Ltd bought a new position in shares of Algoma Steel Group in the 2nd quarter worth approximately $73,000. Quadrature Capital Ltd purchased a new position in shares of Algoma Steel Group in the 4th quarter valued at approximately $114,000. Victory Capital Management Inc. bought a new stake in shares of Algoma Steel Group during the fourth quarter valued at approximately $126,000. Finally, Boston Partners purchased a new stake in Algoma Steel Group in the fourth quarter worth $277,000. 72.00% of the stock is owned by hedge funds and other institutional investors.

About Algoma Steel Group

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.