Algoma Steel Group Inc. (NASDAQ:ASTL) is AMH Equity Ltd’s 7th Largest Position

AMH Equity Ltd cut its position in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 525,000 shares of the company’s stock after selling 28,175 shares during the period. Algoma Steel Group accounts for 5.1% of AMH Equity Ltd’s holdings, making the stock its 7th biggest position. AMH Equity Ltd owned about 0.50% of Algoma Steel Group worth $5,134,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale boosted its position in Algoma Steel Group by 13.3% during the third 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. Intact Investment Management Inc. raised its stake in shares of Algoma Steel Group by 6.6% during the 3rd quarter. Intact Investment Management Inc. now owns 1,298,600 shares of the company’s stock worth $13,309,000 after buying an additional 80,700 shares during the period. GSA Capital Partners LLP lifted its position in shares of Algoma Steel Group by 23.5% during 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. PCJ Investment Counsel Ltd. acquired a new stake in Algoma Steel Group in the 3rd quarter valued at $1,879,000. Finally, FMR LLC purchased a new stake in Algoma Steel Group in the 3rd quarter worth $36,008,000. Institutional investors and hedge funds own 72.00% of the company’s stock.

Algoma Steel Group Stock Performance

ASTL opened at $7.23 on Thursday. The firm’s fifty day simple moving average is $8.56 and its two-hundred day simple moving average is $9.66. Algoma Steel Group Inc. has a 52-week low of $6.67 and a 52-week high of $12.14. The company has a market cap of $758.31 million, a price-to-earnings ratio of -5.69 and a beta of 1.46. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42.

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.