Two Sigma Investments LP Has $358,000 Holdings in Algoma Steel Group Inc. (NASDAQ:ASTL)

Two Sigma Investments LP grew its stake in Algoma Steel Group Inc. (NASDAQ:ASTL) by 41.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 36,600 shares of the company’s stock after buying an additional 10,781 shares during the quarter. Two Sigma Investments LP’s holdings in Algoma Steel Group were worth $358,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Gamco Investors INC. ET AL boosted its holdings in shares of Algoma Steel Group by 4.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 32,675 shares of the company’s stock valued at $320,000 after buying an additional 1,350 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Algoma Steel Group by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 152,846 shares of the company’s stock valued at $1,499,000 after buying an additional 1,985 shares during the period. Legal & General Group Plc boosted its holdings in shares of Algoma Steel Group by 4.8% in the fourth quarter. Legal & General Group Plc now owns 80,745 shares of the company’s stock valued at $790,000 after buying an additional 3,666 shares during the period. 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 valued at $1,013,000 after buying an additional 3,944 shares during the period. Finally, 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 valued at $1,689,000 after buying an additional 5,296 shares during the period. Institutional investors and hedge funds own 72.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank of Canada upgraded shares of Algoma Steel Group to a “hold” rating in a report on Tuesday, April 22nd. Stifel Canada cut shares of Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th. Finally, BMO Capital Markets cut shares of Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a report on Monday, June 2nd.

Algoma Steel Group Stock Performance

Shares of ASTL opened at $6.09 on Wednesday. Algoma Steel Group Inc. has a 12 month low of $4.17 and a 12 month high of $12.14. The firm has a fifty day simple moving average of $5.26 and a 200 day simple moving average of $7.20. The stock has a market capitalization of $639.05 million, a price-to-earnings ratio of -4.80 and a beta of 1.56. The company has a current ratio of 3.31, a quick ratio of 1.66 and a debt-to-equity ratio of 0.42.

Algoma Steel Group (NASDAQ:ASTL) last announced its earnings results on Tuesday, April 29th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.36. Algoma Steel Group had a negative net margin of 6.30% and a negative return on equity of 10.63%. The business had revenue of $359.30 million during the quarter, compared to analysts’ expectations of $327.56 million. Research analysts forecast that Algoma Steel Group Inc. will post -0.63 EPS for the current fiscal year.

Algoma Steel Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Tuesday, May 13th. Algoma Steel Group’s dividend payout ratio is currently -12.99%.

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.