Walleye Capital LLC Increases Holdings in Algoma Steel Group Inc. (NASDAQ:ASTL)

Walleye Capital LLC lifted its position in Algoma Steel Group Inc. (NASDAQ:ASTL) by 314.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 224,760 shares of the company’s stock after buying an additional 170,513 shares during the period. Walleye Capital LLC’s holdings in Algoma Steel Group were worth $2,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of ASTL. Scheer Rowlett & Associates Investment Management Ltd. boosted its position in Algoma Steel Group by 1.0% in the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 2,179,362 shares of the company’s stock worth $21,320,000 after purchasing an additional 22,049 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Algoma Steel Group by 276.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,317,083 shares of the company’s stock worth $12,884,000 after buying an additional 966,976 shares during the last quarter. CenterBook Partners LP grew its position in Algoma Steel Group by 35.1% during the fourth quarter. CenterBook Partners LP now owns 403,869 shares of the company’s stock valued at $3,950,000 after buying an additional 104,981 shares during the period. JPMorgan Chase & Co. increased its holdings in Algoma Steel Group by 16.1% during the third quarter. JPMorgan Chase & Co. now owns 357,367 shares of the company’s stock valued at $3,656,000 after buying an additional 49,642 shares during the last quarter. Finally, Bank of Montreal Can raised its position in Algoma Steel Group by 4.6% in the fourth quarter. Bank of Montreal Can now owns 329,461 shares of the company’s stock worth $3,223,000 after acquiring an additional 14,379 shares during the period. Institutional investors own 72.00% of the company’s stock.

Algoma Steel Group Stock Up 1.9 %

NASDAQ ASTL opened at $4.80 on Friday. Algoma Steel Group Inc. has a 52 week low of $4.17 and a 52 week high of $12.14. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $503.68 million, a P/E ratio of -3.78 and a beta of 1.57. The stock’s 50-day moving average price is $6.13 and its 200-day moving average price is $8.50.

Algoma Steel Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Friday, March 21st were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 4.17%. The ex-dividend date was Friday, March 21st. Algoma Steel Group’s dividend payout ratio is currently -17.54%.

Wall Street Analysts Forecast Growth

Separately, Stifel Canada lowered Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday.

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.