Algoma Steel Group Inc. (NASDAQ:ASTL) Shares Sold by TCW Group Inc.

TCW Group Inc. reduced its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 7.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,890,235 shares of the company’s stock after selling 144,749 shares during the period. TCW Group Inc. owned 1.81% of Algoma Steel Group worth $19,337,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. FMR LLC purchased a new position in Algoma Steel Group during the third quarter worth approximately $36,008,000. American Century Companies Inc. increased its stake in shares of 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 acquiring an additional 146,104 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Algoma Steel Group by 106.8% during the 2nd quarter. Renaissance Technologies LLC now owns 126,133 shares of the company’s stock worth $878,000 after acquiring an additional 65,133 shares during the period. Intact Investment Management Inc. boosted its position in shares of Algoma Steel Group by 6.6% during the 3rd quarter. Intact Investment Management Inc. now owns 1,298,600 shares of the company’s stock valued at $13,309,000 after acquiring an additional 80,700 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Algoma Steel Group in the second quarter valued at about $939,000. 72.00% of the stock is currently owned by hedge funds and other institutional investors.

Algoma Steel Group Price Performance

Shares of ASTL stock opened at $10.15 on Wednesday. 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 has a market capitalization of $1.06 billion, a PE ratio of -7.99 and a beta of 1.47. The firm’s 50-day moving average is $10.50 and its two-hundred day moving average is $9.32. Algoma Steel Group Inc. has a 12 month low of $6.67 and a 12 month high of $12.14.

Algoma Steel Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Wednesday, November 27th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Wednesday, November 27th. Algoma Steel Group’s dividend payout ratio is presently -15.75%.

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.