Van ECK Associates Corp Has $1.24 Million Stock Position in Algoma Steel Group Inc. (NASDAQ:ASTL)

Van ECK Associates Corp boosted its stake in Algoma Steel Group Inc. (NASDAQ:ASTL) by 35.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 123,721 shares of the company’s stock after purchasing an additional 32,352 shares during the quarter. Van ECK Associates Corp owned about 0.12% of Algoma Steel Group worth $1,241,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ASTL. Donald Smith & CO. Inc. raised its position in shares of Algoma Steel Group by 25.6% in the 4th quarter. Donald Smith & CO. Inc. now owns 9,623,479 shares of the company’s stock valued at $96,523,000 after buying an additional 1,959,530 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Algoma Steel Group in the 4th quarter valued at $19,461,000. Russell Investments Group Ltd. increased its stake in shares of Algoma Steel Group by 93.5% in the 4th quarter. Russell Investments Group Ltd. now owns 251,132 shares of the company’s stock valued at $2,527,000 after purchasing an additional 121,323 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Algoma Steel Group during the 3rd quarter worth $455,000. Finally, Aigen Investment Management LP acquired a new stake in Algoma Steel Group in the third quarter valued at about $186,000. Institutional investors own 72.00% of the company’s stock.

Algoma Steel Group Stock Up 2.2 %

ASTL stock opened at $7.90 on Friday. The firm has a 50-day moving average price of $7.96 and a 200-day moving average price of $8.26. Algoma Steel Group Inc. has a 12 month low of $6.34 and a 12 month high of $10.25. The company has a current ratio of 2.88, a quick ratio of 0.98 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $822.39 million, a P/E ratio of 79.00 and a beta of 1.54.

Algoma Steel Group (NASDAQ:ASTL) last issued its earnings results on Tuesday, February 6th. The company reported ($0.57) earnings per share for the quarter. The company had revenue of $452.07 million during the quarter, compared to analyst estimates of $453.22 million. Algoma Steel Group had a net margin of 2.05% and a return on equity of 3.84%. As a group, equities research analysts anticipate that Algoma Steel Group Inc. will post 0.77 EPS for the current fiscal year.

Algoma Steel Group 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.