Donald Smith & CO. Inc. Buys 1,959,530 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

Donald Smith & CO. Inc. boosted its stake in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 25.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,623,479 shares of the company’s stock after purchasing an additional 1,959,530 shares during the period. Algoma Steel Group comprises approximately 2.5% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 13th biggest holding. Donald Smith & CO. Inc. owned 0.09% of Algoma Steel Group worth $96,523,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC bought a new position in Algoma Steel Group during the third quarter worth about $73,000. Meixler Investment Management Ltd. bought a new position in Algoma Steel Group during the third quarter worth about $83,000. McAdam LLC bought a new position in Algoma Steel Group during the fourth quarter worth about $161,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Algoma Steel Group by 47.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,329 shares of the company’s stock worth $194,000 after purchasing an additional 6,236 shares during the period. Finally, Aigen Investment Management LP bought a new position in Algoma Steel Group during the third quarter worth about $186,000. Institutional investors own 72.00% of the company’s stock.

Algoma Steel Group Stock Performance

NASDAQ:ASTL traded up $0.02 on Monday, reaching $7.88. 166,141 shares of the company’s stock were exchanged, compared to its average volume of 601,007. The stock has a fifty day simple moving average of $8.07 and a 200-day simple moving average of $8.21. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.88 and a quick ratio of 0.98. Algoma Steel Group Inc. has a 52 week low of $6.34 and a 52 week high of $10.25. The firm has a market cap of $820.31 million, a price-to-earnings ratio of 78.60 and a beta of 1.52.

Algoma Steel Group (NASDAQ:ASTL) last posted its quarterly earnings results on Tuesday, February 6th. The company reported ($0.57) EPS for the quarter. Algoma Steel Group had a return on equity of 3.84% and a net margin of 2.05%. The business had revenue of $452.07 million for the quarter, compared to analysts’ expectations of $453.22 million. As a group, sell-side analysts predict that Algoma Steel Group Inc. will post 0.77 earnings per share for the current year.

Algoma Steel Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, February 29th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Wednesday, February 28th. Algoma Steel Group’s dividend payout ratio (DPR) is currently 200.00%.

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.