Donald Smith & CO. Inc. Has $96.52 Million Stake in Algoma Steel Group Inc. (NASDAQ:ASTL)

Donald Smith & CO. Inc. boosted its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 25.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,623,479 shares of the company’s stock after purchasing an additional 1,959,530 shares during the quarter. Algoma Steel Group comprises approximately 2.5% of Donald Smith & CO. Inc.’s holdings, making the stock its 13th largest position. Donald Smith & CO. Inc. owned about 9.25% of Algoma Steel Group worth $96,523,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ASTL. Vanguard Personalized Indexing Management LLC bought a new position in shares of Algoma Steel Group during the 3rd quarter worth approximately $73,000. Meixler Investment Management Ltd. acquired a new stake in shares of Algoma Steel Group in the 3rd quarter valued at $83,000. McAdam LLC acquired a new stake in shares of Algoma Steel Group during the fourth quarter worth $161,000. Aigen Investment Management LP acquired a new stake in shares of Algoma Steel Group during the third quarter worth $186,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Algoma Steel Group by 47.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,329 shares of the company’s stock worth $194,000 after purchasing an additional 6,236 shares during the period. Institutional investors own 72.00% of the company’s stock.

Algoma Steel Group Trading Up 0.3 %

ASTL stock traded up $0.02 during midday trading on Monday, hitting $7.88. 166,141 shares of the company’s stock were exchanged, compared to its average volume of 601,007. The stock’s fifty day moving average price is $8.07 and its 200-day moving average price is $8.21. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.98 and a current ratio of 2.88. The company has a market cap of $820.31 million, a PE ratio of 78.60 and a beta of 1.52. Algoma Steel Group Inc. has a one year low of $6.34 and a one year high of $10.25.

Algoma Steel Group (NASDAQ:ASTL) last issued its quarterly earnings results on Tuesday, February 6th. The company reported ($0.57) EPS for the quarter. The firm had revenue of $452.07 million during the quarter, compared to the consensus estimate of $453.22 million. Algoma Steel Group had a net margin of 2.05% and a return on equity of 3.84%. Research analysts predict that Algoma Steel Group Inc. will post 0.77 earnings per share for the current fiscal year.

Algoma Steel Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, February 29th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Wednesday, February 28th. Algoma Steel Group’s dividend payout ratio is currently 200.00%.

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.