PDT Partners LLC Sells 34,462 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

PDT Partners LLC trimmed its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 42.9% in the fourth quarter, HoldingsChannel reports. The firm owned 45,875 shares of the company’s stock after selling 34,462 shares during the quarter. PDT Partners LLC’s holdings in Algoma Steel Group were worth $449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aquatic Capital Management LLC acquired a new position in shares of Algoma Steel Group in the fourth quarter valued at approximately $64,000. Corient Private Wealth LLC bought a new position in Algoma Steel Group during the 4th quarter worth $147,000. Jump Financial LLC acquired a new stake in shares of Algoma Steel Group during the fourth quarter worth $204,000. Wells Fargo & Company MN bought a new stake in shares of Algoma Steel Group in the fourth quarter valued at about $210,000. Finally, Terril Brothers Inc. acquired a new position in shares of Algoma Steel Group in the fourth quarter valued at about $214,000. 72.00% of the stock is currently owned by institutional investors and hedge funds.

Algoma Steel Group Price Performance

ASTL stock opened at $5.34 on Friday. The company’s 50-day moving average price is $5.62 and its two-hundred day moving average price is $8.20. The firm has a market cap of $560.35 million, a P/E ratio of -4.20 and a beta of 1.57. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42. Algoma Steel Group Inc. has a 12 month low of $4.17 and a 12 month high of $12.14.

Algoma Steel Group (NASDAQ:ASTL) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.36. Algoma Steel Group had a negative net margin of 6.30% and a negative return on equity of 10.63%. The business had revenue of $359.30 million for the quarter, compared to analysts’ expectations of $327.56 million. On average, analysts anticipate that Algoma Steel Group Inc. will post -0.63 earnings per share for the current fiscal year.

Algoma Steel Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 13th will be issued a dividend of $0.05 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.75%. Algoma Steel Group’s dividend payout ratio (DPR) is currently -12.99%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ASTL. Stifel Canada downgraded shares of Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. Royal Bank of Canada upgraded Algoma Steel Group to a “hold” rating in a research report on Tuesday, April 22nd.

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.