Donald Smith & CO. Inc. Sells 784,584 Shares of Algoma Steel Group Inc. (NASDAQ:ASTL)

Donald Smith & CO. Inc. lessened its stake in Algoma Steel Group Inc. (NASDAQ:ASTL) by 8.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,062,867 shares of the company’s stock after selling 784,584 shares during the quarter. Algoma Steel Group comprises approximately 1.9% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 22nd biggest holding. Donald Smith & CO. Inc. owned approximately 0.08% of Algoma Steel Group worth $82,483,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. XTX Topco Ltd acquired a new position in shares of Algoma Steel Group during the second quarter valued at $73,000. Clayton Partners LLC acquired a new position in Algoma Steel Group during the 2nd quarter valued at about $73,000. Net Worth Advisory Group bought a new position in shares of Algoma Steel Group in the 3rd quarter valued at about $159,000. DekaBank Deutsche Girozentrale grew its position in shares of Algoma Steel Group by 13.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 21,188 shares of the company’s stock worth $217,000 after buying an additional 2,481 shares during the period. Finally, Boston Partners raised its stake in shares of Algoma Steel Group by 125.2% during the first quarter. Boston Partners now owns 62,137 shares of the company’s stock worth $528,000 after buying an additional 34,548 shares during the last quarter. 72.00% of the stock is owned by institutional investors.

Algoma Steel Group Trading Down 0.3 %

NASDAQ ASTL traded down $0.03 during trading hours on Wednesday, hitting $10.55. The company’s stock had a trading volume of 114,899 shares, compared to its average volume of 565,682. The stock has a fifty day moving average of $10.07 and a 200 day moving average of $8.70. The company has a quick ratio of 2.15, a current ratio of 4.19 and a debt-to-equity ratio of 0.39. Algoma Steel Group Inc. has a twelve month low of $6.67 and a twelve month high of $10.71. The firm has a market capitalization of $1.10 billion, a P/E ratio of 34.13 and a beta of 1.50.

Algoma Steel Group (NASDAQ:ASTL) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.04. Algoma Steel Group had a negative return on equity of 1.23% and a negative net margin of 0.72%. The business had revenue of $475.44 million for the quarter, compared to analyst estimates of $444.32 million. Equities research analysts forecast that Algoma Steel Group Inc. will post -0.58 earnings per share for the current fiscal year.

Algoma Steel Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 23rd were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.90%. The ex-dividend date was Friday, August 23rd. Algoma Steel Group’s payout ratio is 64.52%.

About Algoma Steel Group

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.