Algoma Steel Group Inc. (NASDAQ:ASTL – Get Free Report) was the target of unusually large options trading activity on Tuesday. Stock investors bought 11,996 call options on the stock. This represents an increase of 855% compared to the average daily volume of 1,256 call options.
Hedge Funds Weigh In On Algoma Steel Group
A number of hedge funds have recently added to or reduced their stakes in ASTL. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Algoma Steel Group by 3.9% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 41,422 shares of the company’s stock worth $262,000 after buying an additional 1,571 shares during the last quarter. ARS Investment Partners LLC lifted its stake in shares of Algoma Steel Group by 4.1% in the first quarter. ARS Investment Partners LLC now owns 51,000 shares of the company’s stock worth $412,000 after buying an additional 2,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Algoma Steel Group by 26.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,093 shares of the company’s stock worth $83,000 after purchasing an additional 2,735 shares during the period. LPL Financial LLC raised its stake in Algoma Steel Group by 14.3% during the fourth quarter. LPL Financial LLC now owns 25,385 shares of the company’s stock worth $161,000 after purchasing an additional 3,170 shares during the period. Finally, Barclays PLC increased its position in shares of Algoma Steel Group by 35.4% during the fourth quarter. Barclays PLC now owns 12,237 shares of the company’s stock valued at $78,000 after acquiring an additional 3,200 shares during the last quarter. 62.44% of the stock is currently owned by institutional investors.
Algoma Steel Group Price Performance
ASTL stock opened at $7.47 on Thursday. The firm has a 50 day moving average price of $7.30 and a 200-day moving average price of $7.56. Algoma Steel Group has a 52-week low of $5.64 and a 52-week high of $9.94. The firm has a market capitalization of $773.89 million, a price-to-earnings ratio of 24.90 and a beta of 1.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.87 and a current ratio of 3.49.
Algoma Steel Group (NASDAQ:ASTL – Get Free Report) last posted its earnings results on Thursday, August 10th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.12). Algoma Steel Group had a return on equity of 8.67% and a net margin of 4.90%. The company had revenue of $615.87 million during the quarter, compared to the consensus estimate of $596.30 million. During the same period last year, the firm posted $1.17 EPS. Equities research analysts forecast that Algoma Steel Group will post 1.73 EPS for the current fiscal year.
Algoma Steel Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, August 25th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $0.20 dividend on an annualized basis and a yield of 2.68%. Algoma Steel Group’s dividend payout ratio is currently 66.67%.
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.
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