AMH Equity Ltd Sells 239,812 Shares of Algoma Steel Group Inc. $ASTL

AMH Equity Ltd lowered its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 88.8% during the second quarter, HoldingsChannel reports. 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ASTL. Y Intercept Hong Kong Ltd bought a new stake in shares of Algoma Steel Group during the 1st quarter worth approximately $514,000. Prescott Group Capital Management L.L.C. bought a new stake in Algoma Steel Group in the first quarter valued at approximately $650,000. Heartland Advisors Inc. raised its stake in Algoma Steel Group by 150.0% in the first quarter. Heartland Advisors Inc. now owns 500,000 shares of the company’s stock valued at $2,710,000 after buying an additional 300,000 shares during the period. TD Asset Management Inc raised its stake in Algoma Steel Group by 3.3% in the first quarter. TD Asset Management Inc now owns 167,884 shares of the company’s stock valued at $911,000 after buying an additional 5,325 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Algoma Steel Group during the 1st quarter valued at $181,000. Institutional investors own 72.00% of the company’s stock.

Algoma Steel Group Trading Down 6.1%

Shares of Algoma Steel Group stock opened at $3.99 on Friday. The business has a fifty day simple moving average of $4.31 and a two-hundred day simple moving average of $5.26. Algoma Steel Group Inc. has a 1 year low of $3.02 and a 1 year high of $12.14. The company has a market capitalization of $418.67 million, a price-to-earnings ratio of -0.84 and a beta of 1.55. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.46 and a quick ratio of 0.98.

Algoma Steel Group (NASDAQ:ASTL) last posted its 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 company had revenue of $380.44 million during the quarter, compared to the consensus estimate of $366.98 million. Research analysts forecast that Algoma Steel Group Inc. will post -0.63 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ASTL. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Algoma Steel Group in a report on Wednesday, October 8th. Wall Street Zen downgraded Algoma Steel Group from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

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.