Algoma Steel Group Inc. (NASDAQ:ASTL) Shares Bought by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC boosted its position in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 7.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,646 shares of the company’s stock after purchasing an additional 6,803 shares during the period. HITE Hedge Asset Management LLC owned 0.09% of Algoma Steel Group worth $948,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. FMR LLC acquired a new position in Algoma Steel Group in the 3rd quarter worth $36,008,000. PCJ Investment Counsel Ltd. acquired a new position in shares of Algoma Steel Group during the third quarter valued at about $1,879,000. American Century Companies Inc. grew its position in Algoma Steel Group by 89.9% in the 2nd quarter. American Century Companies Inc. now owns 308,543 shares of the company’s stock worth $2,140,000 after purchasing an additional 146,104 shares in the last quarter. Consolidated Portfolio Review Corp bought a new position in Algoma Steel Group in the 3rd quarter worth approximately $1,382,000. Finally, Dimensional Fund Advisors LP purchased a new stake in Algoma Steel Group in the 2nd quarter worth approximately $939,000. 72.00% of the stock is currently owned by institutional investors.

Algoma Steel Group Trading Down 1.9 %

ASTL stock opened at $10.56 on Tuesday. Algoma Steel Group Inc. has a one year low of $6.67 and a one year high of $12.14. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.31 and a quick ratio of 1.66. The company’s fifty day moving average price is $10.49 and its 200-day moving average price is $9.24.

Algoma Steel Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Wednesday, November 27th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a yield of 1.89%. Algoma Steel Group’s dividend payout ratio is currently -15.75%.

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.