Algoma Steel Group Inc. (NASDAQ:ASTL) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in Algoma Steel Group Inc. (NASDAQ:ASTL) by 15.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,486 shares of the company’s stock after selling 8,556 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Algoma Steel Group were worth $476,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ASTL. Clayton Partners LLC acquired a new stake in shares of Algoma Steel Group in the second quarter valued at about $73,000. XTX Topco Ltd acquired a new stake in Algoma Steel Group in the 2nd quarter valued at about $73,000. Net Worth Advisory Group acquired a new stake in Algoma Steel Group in the 3rd quarter valued at about $159,000. DekaBank Deutsche Girozentrale lifted its stake in Algoma Steel Group by 13.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 21,188 shares of the company’s stock worth $217,000 after purchasing an additional 2,481 shares in the last quarter. Finally, Quantbot Technologies LP boosted its holdings in shares of Algoma Steel Group by 831.9% during the 3rd quarter. Quantbot Technologies LP now owns 28,375 shares of the company’s stock worth $290,000 after purchasing an additional 25,330 shares during the last quarter. Hedge funds and other institutional investors own 72.00% of the company’s stock.

Algoma Steel Group Price Performance

NASDAQ:ASTL opened at $10.22 on Friday. Algoma Steel Group Inc. has a one year low of $6.67 and a one year high of $12.14. The stock has a market cap of $1.07 billion, a PE ratio of -8.05 and a beta of 1.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 3.31. The stock has a 50 day moving average price of $10.50 and a 200 day moving average price of $9.28.

Algoma Steel Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Wednesday, November 27th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Wednesday, November 27th. Algoma Steel Group’s dividend payout ratio (DPR) 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.