Bank of Montreal Can Has $2.54 Million Position in Algoma Steel Group Inc. (NASDAQ:ASTL)

Bank of Montreal Can grew its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 364,422 shares of the company’s stock after acquiring an additional 6,154 shares during the period. Bank of Montreal Can’s holdings in Algoma Steel Group were worth $2,536,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ASTL. CIBC Asset Management Inc boosted its position in shares of Algoma Steel Group by 5.8% during the 2nd quarter. CIBC Asset Management Inc now owns 103,334 shares of the company’s stock worth $716,000 after purchasing an additional 5,674 shares in the last quarter. Clayton Partners LLC bought a new position in shares of Algoma Steel Group during the 2nd quarter worth about $73,000. XTX Topco Ltd bought a new position in shares of Algoma Steel Group during the 2nd quarter worth about $73,000. Swiss National Bank boosted its position in shares of Algoma Steel Group by 6.1% during the 1st quarter. Swiss National Bank now owns 196,107 shares of the company’s stock worth $1,672,000 after purchasing an additional 11,300 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Algoma Steel Group during the 4th quarter worth about $114,000. 72.00% of the stock is currently owned by institutional investors and hedge funds.

Algoma Steel Group Price Performance

ASTL stock opened at $9.98 on Friday. The stock has a market capitalization of $1.04 billion, a PE ratio of 32.19 and a beta of 1.50. The company’s 50-day moving average is $9.78 and its 200-day moving average is $8.47. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.19 and a quick ratio of 2.15. Algoma Steel Group Inc. has a 1 year low of $6.34 and a 1 year high of $10.71.

Algoma Steel Group (NASDAQ:ASTL) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.04. Algoma Steel Group had a negative net margin of 0.72% and a negative return on equity of 1.23%. The business had revenue of $475.44 million for the quarter, compared to analysts’ expectations of $444.32 million. Equities research analysts expect that Algoma Steel Group Inc. will post -0.72 EPS for the current fiscal year.

Algoma Steel Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 23rd were given a $0.05 dividend. The ex-dividend date was Friday, August 23rd. This represents a $0.20 annualized dividend and a yield of 2.00%. Algoma Steel Group’s payout ratio is 64.52%.

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.