AMH Equity Ltd Has $208,000 Position in Algoma Steel Group Inc. $ASTL

AMH Equity Ltd reduced its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 88.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,191 shares of the company’s stock after selling 239,812 shares during the quarter. AMH Equity Ltd’s holdings in Algoma Steel Group were worth $208,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in shares of Algoma Steel Group by 0.9% during the 1st 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. TD Asset Management Inc grew its position in shares of Algoma Steel Group by 3.3% during the 1st quarter. TD Asset Management Inc now owns 167,884 shares of the company’s stock worth $911,000 after buying an additional 5,325 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Algoma Steel Group by 24.9% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 53,789 shares of the company’s stock worth $292,000 after buying an additional 10,713 shares during the period. EJF Capital LLC acquired a new position in shares of Algoma Steel Group during the 1st quarter worth about $60,000. Finally, Aigen Investment Management LP acquired a new position in shares of Algoma Steel Group during the 1st quarter worth about $69,000. 72.00% of the stock is currently owned by institutional investors and hedge funds.

Algoma Steel Group Trading Down 6.1%

NASDAQ:ASTL opened at $3.99 on Friday. Algoma Steel Group Inc. has a twelve month low of $3.02 and a twelve month high of $12.14. The company has a quick ratio of 0.98, a current ratio of 2.46 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $4.31 and a two-hundred day moving average price of $5.26. The company has a market cap of $418.67 million, a P/E ratio of -0.84 and a beta of 1.55.

Algoma Steel Group (NASDAQ:ASTL) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.78. Algoma Steel Group had a negative return on equity of 13.34% and a negative net margin of 31.27%.The firm had revenue of $380.44 million during the quarter, compared to the consensus estimate of $366.98 million. As a group, analysts expect that Algoma Steel Group Inc. will post -0.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ASTL. Weiss Ratings reiterated a “sell (d)” rating on shares of Algoma Steel Group in a research report on Wednesday, October 8th. Wall Street Zen lowered Algoma Steel Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

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.