PCJ Investment Counsel Ltd. Acquires New Shares in Algoma Steel Group Inc. (NASDAQ:ASTL)

PCJ Investment Counsel Ltd. acquired a new stake in Algoma Steel Group Inc. (NASDAQ:ASTL) in the third quarter, according to its most recent filing with the SEC. The fund acquired 183,500 shares of the company’s stock, valued at approximately $1,879,000.

A number of other hedge funds have also bought and sold shares of the business. GSA Capital Partners LLP grew its stake in Algoma Steel Group by 23.5% in the 3rd quarter. GSA Capital Partners LLP now owns 44,757 shares of the company’s stock valued at $458,000 after buying an additional 8,502 shares in the last quarter. Intact Investment Management Inc. grew its stake in Algoma Steel Group by 6.6% in the 3rd quarter. Intact Investment Management Inc. now owns 1,298,600 shares of the company’s stock valued at $13,309,000 after buying an additional 80,700 shares in the last quarter. DekaBank Deutsche Girozentrale grew 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 valued at $217,000 after buying an additional 2,481 shares in the last quarter. Consolidated Portfolio Review Corp purchased a new position in shares of Algoma Steel Group during the 3rd quarter valued at $1,382,000. Finally, Net Worth Advisory Group purchased a new position in shares of Algoma Steel Group during the 3rd quarter valued at $159,000. 72.00% of the stock is currently owned by hedge funds and other institutional investors.

Algoma Steel Group Stock Up 2.2 %

ASTL opened at $11.37 on Wednesday. Algoma Steel Group Inc. has a one year low of $6.67 and a one year high of $12.14. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.31 and a quick ratio of 1.66. The firm has a market capitalization of $1.19 billion, a P/E ratio of -8.75 and a beta of 1.49. The company has a fifty day moving average price of $10.30 and a 200-day moving average price of $9.02.

Algoma Steel Group Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 1.76%. The ex-dividend date is Wednesday, November 27th. 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.