Algoma Steel Group (NASDAQ:ASTL) Stock Price Down 1% – Should You Sell?

Algoma Steel Group Inc. (NASDAQ:ASTL)’s share price was down 1% during trading on Tuesday . The stock traded as low as $6.62 and last traded at $6.63. Approximately 556,889 shares traded hands during trading, a decline of 32% from the average daily volume of 816,403 shares. The stock had previously closed at $6.70.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ASTL shares. Royal Bank Of Canada upgraded Algoma Steel Group to a “hold” rating in a research report on Tuesday, April 22nd. BMO Capital Markets lowered Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 2nd. Finally, Stifel Canada lowered Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th.

Algoma Steel Group Stock Down 1.0%

The company has a quick ratio of 1.47, a current ratio of 3.10 and a debt-to-equity ratio of 0.42. The stock has a 50-day simple moving average of $6.18 and a 200-day simple moving average of $6.62. The firm has a market capitalization of $695.69 million, a PE ratio of -4.31 and a beta of 1.65.

Algoma Steel Group (NASDAQ:ASTL) last released its quarterly earnings data 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 return on equity of 12.98% and a negative net margin of 8.15%. The firm had revenue of $359.30 million for the quarter, compared to the consensus estimate of $327.56 million. Analysts forecast that Algoma Steel Group Inc. will post -0.63 EPS for the current year.

Algoma Steel Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Tuesday, May 13th were given a $0.05 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.20 annualized dividend and a yield of 3.02%. Algoma Steel Group’s dividend payout ratio (DPR) is presently -12.99%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ASTL. Gamco Investors INC. ET AL grew its holdings in 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 worth $320,000 after purchasing an additional 1,350 shares during the last quarter. Geode Capital Management LLC grew its holdings in Algoma Steel Group by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 152,846 shares of the company’s stock worth $1,499,000 after purchasing an additional 1,985 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Algoma Steel Group by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 415,143 shares of the company’s stock worth $2,253,000 after buying an additional 3,643 shares during the period. Legal & General Group Plc lifted its stake 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 buying an additional 3,666 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Algoma Steel Group by 3.2% during the fourth quarter. American Century Companies Inc. now owns 172,428 shares of the company’s stock worth $1,689,000 after buying an additional 5,296 shares during the period. Institutional investors own 72.00% of the company’s stock.

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.