Algoma Steel Group Inc. (NASDAQ:ASTL) Shares Sold by TCW Group Inc.

TCW Group Inc. trimmed its position in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 7.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,890,235 shares of the company’s stock after selling 144,749 shares during the period. TCW Group Inc.’s holdings in Algoma Steel Group were worth $19,337,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ASTL. Intact Investment Management Inc. raised its holdings 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 valued at $8,448,000 after buying an additional 81,700 shares during the period. CIBC Asset Management Inc lifted its position in shares of Algoma Steel Group by 5.8% during the second 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. lifted its position in shares of Algoma Steel Group by 89.9% during the second 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. Dimensional Fund Advisors LP purchased a new position in shares of Algoma Steel Group in the second quarter valued at approximately $939,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Algoma Steel Group by 106.8% in the second quarter. Renaissance Technologies LLC now owns 126,133 shares of the company’s stock valued at $878,000 after purchasing an additional 65,133 shares in the last quarter. 72.00% of the stock is currently owned by hedge funds and other institutional investors.

Algoma Steel Group Price Performance

Algoma Steel Group stock opened at $10.15 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42. Algoma Steel Group Inc. has a 52-week low of $6.67 and a 52-week high of $12.14. The firm has a market cap of $1.06 billion, a PE ratio of -7.99 and a beta of 1.47. The company’s 50 day moving average is $10.50 and its two-hundred day moving average is $9.32.

Algoma Steel Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Wednesday, November 27th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, November 27th. Algoma Steel Group’s payout ratio is currently -15.75%.

Algoma Steel Group 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.