Algoma Steel Group Inc. (NASDAQ:ASTL) Short Interest Down 6.2% in April

Algoma Steel Group Inc. (NASDAQ:ASTL) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 3,490,000 shares, a decrease of 6.2% from the March 31st total of 3,720,000 shares. Based on an average daily volume of 584,500 shares, the days-to-cover ratio is currently 6.0 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC bought a new position in Algoma Steel Group during the third quarter worth $73,000. Meixler Investment Management Ltd. bought a new position in Algoma Steel Group during the third quarter worth $83,000. Tower Research Capital LLC TRC boosted its stake in Algoma Steel Group by 148.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,976 shares of the company’s stock worth $90,000 after acquiring an additional 5,357 shares in the last quarter. Quadrature Capital Ltd bought a new position in Algoma Steel Group during the fourth quarter worth $114,000. Finally, Victory Capital Management Inc. bought a new position in Algoma Steel Group during the fourth quarter worth $126,000. 72.00% of the stock is owned by institutional investors.

Algoma Steel Group Stock Performance

NASDAQ:ASTL opened at $7.65 on Thursday. The firm’s fifty day moving average is $8.04 and its 200-day moving average is $8.22. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.98 and a current ratio of 2.88. Algoma Steel Group has a 52 week low of $6.34 and a 52 week high of $10.25. The firm has a market cap of $796.39 million, a P/E ratio of 76.50 and a beta of 1.52.

Algoma Steel Group (NASDAQ:ASTL) last posted its quarterly earnings data on Tuesday, February 6th. The company reported ($0.57) EPS for the quarter. Algoma Steel Group had a net margin of 2.05% and a return on equity of 3.84%. The firm had revenue of $452.07 million during the quarter, compared to the consensus estimate of $453.22 million. Equities analysts expect that Algoma Steel Group will post 0.77 earnings per share for the current year.

Algoma Steel Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, February 29th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Wednesday, February 28th. Algoma Steel Group’s dividend payout ratio is presently 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.