Quinn Opportunity Partners LLC Reduces Position in Algoma Steel Group Inc. (NASDAQ:ASTL)

Quinn Opportunity Partners LLC lessened its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 10.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,000 shares of the company’s stock after selling 2,533 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in Algoma Steel Group were worth $215,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in Algoma Steel Group by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 152,846 shares of the company’s stock worth $1,499,000 after buying an additional 1,985 shares during the period. Legal & General Group Plc lifted its position in shares of Algoma Steel Group by 4.8% during the fourth quarter. Legal & General Group Plc now owns 80,745 shares of the company’s stock worth $790,000 after acquiring an additional 3,666 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Algoma Steel Group by 4.0% in the fourth quarter. Van ECK Associates Corp now owns 103,555 shares of the company’s stock worth $1,013,000 after acquiring an additional 3,944 shares during the period. American Century Companies Inc. boosted its holdings in shares of Algoma Steel Group by 3.2% in the fourth quarter. American Century Companies Inc. now owns 172,428 shares of the company’s stock worth $1,689,000 after acquiring an additional 5,296 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Algoma Steel Group by 11.2% in the fourth quarter. Renaissance Technologies LLC now owns 89,374 shares of the company’s stock valued at $874,000 after purchasing an additional 8,974 shares in the last quarter. Hedge funds and other institutional investors own 72.00% of the company’s stock.

Algoma Steel Group Stock Performance

Shares of ASTL opened at $4.65 on Friday. Algoma Steel Group Inc. has a 52-week low of $4.17 and a 52-week high of $12.14. The stock’s 50-day simple moving average is $6.49 and its 200 day simple moving average is $8.68. 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 market capitalization of $487.71 million, a price-to-earnings ratio of -3.66 and a beta of 1.57.

Algoma Steel Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Friday, March 21st were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend was Friday, March 21st. Algoma Steel Group’s payout ratio is -17.54%.

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.