Donald Smith & CO. Inc. Has $82.48 Million Stock Holdings in Algoma Steel Group Inc. (NASDAQ:ASTL)

Donald Smith & CO. Inc. reduced its position in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 8.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,062,867 shares of the company’s stock after selling 784,584 shares during the period. Algoma Steel Group accounts for approximately 1.9% of Donald Smith & CO. Inc.’s holdings, making the stock its 22nd biggest position. Donald Smith & CO. Inc. owned about 7.72% of Algoma Steel Group worth $82,483,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Swiss National Bank boosted its holdings in Algoma Steel Group by 6.1% during the first quarter. Swiss National Bank now owns 196,107 shares of the company’s stock valued at $1,672,000 after purchasing an additional 11,300 shares in the last quarter. Russell Investments Group Ltd. grew its position in Algoma Steel Group by 63.1% in the first quarter. Russell Investments Group Ltd. now owns 409,658 shares of the company’s stock valued at $3,485,000 after acquiring an additional 158,526 shares during the period. MMCAP International Inc. SPC raised its stake in Algoma Steel Group by 152.2% during the first quarter. MMCAP International Inc. SPC now owns 7,789,470 shares of the company’s stock worth $66,133,000 after acquiring an additional 4,700,510 shares in the last quarter. Bracebridge Capital LLC lifted its holdings in shares of Algoma Steel Group by 11.4% during the first quarter. Bracebridge Capital LLC now owns 487,931 shares of the company’s stock valued at $4,143,000 after acquiring an additional 50,000 shares during the period. Finally, O Shaughnessy Asset Management LLC bought a new position in shares of Algoma Steel Group during the first quarter valued at $1,229,000. 72.00% of the stock is currently owned by institutional investors and hedge funds.

Algoma Steel Group Price Performance

Shares of ASTL traded down $0.03 during trading hours on Wednesday, hitting $10.55. The stock had a trading volume of 114,899 shares, compared to its average volume of 565,682. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 34.13 and a beta of 1.50. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.19 and a quick ratio of 2.15. The company’s fifty day moving average is $10.07 and its two-hundred day moving average is $8.70. Algoma Steel Group Inc. has a 52 week low of $6.67 and a 52 week high of $10.71.

Algoma Steel Group (NASDAQ:ASTL) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, topping 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 firm had revenue of $475.44 million for the quarter, compared to analysts’ expectations of $444.32 million. On average, analysts anticipate that Algoma Steel Group Inc. will post -0.58 EPS for the current year.

Algoma Steel Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders 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 1.90%. 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.