Yaupon Capital Management LP Raises Holdings in Algoma Steel Group Inc. (NASDAQ:ASTL)

Yaupon Capital Management LP boosted its position in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 21.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,084,601 shares of the company’s stock after acquiring an additional 188,695 shares during the quarter. Yaupon Capital Management LP owned 1.03% of Algoma Steel Group worth $10,607,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of ASTL. Corient Private Wealth LLC bought a new stake in shares of Algoma Steel Group during the fourth quarter valued at approximately $147,000. Jump Financial LLC bought a new stake in shares of Algoma Steel Group in the fourth quarter worth about $204,000. Wells Fargo & Company MN purchased a new stake in shares of Algoma Steel Group in the fourth quarter worth about $210,000. Terril Brothers Inc. purchased a new position in shares of Algoma Steel Group in the fourth quarter valued at $214,000. Finally, Barclays PLC increased its holdings in shares of Algoma Steel Group by 147.1% in the 3rd quarter. Barclays PLC now owns 25,711 shares of the company’s stock worth $263,000 after buying an additional 15,305 shares during the last quarter. 72.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stifel Canada lowered shares of Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th.

Algoma Steel Group Stock Up 1.0 %

Algoma Steel Group stock opened at $4.85 on Tuesday. The firm has a market cap of $508.93 million, a P/E ratio of -3.82 and a beta of 1.57. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42. Algoma Steel Group Inc. has a twelve month low of $4.17 and a twelve month high of $12.14. The business has a fifty day moving average of $6.06 and a two-hundred day moving average of $8.45.

Algoma Steel Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Friday, March 21st were paid a dividend of $0.05 per share. The ex-dividend date was Friday, March 21st. This represents a $0.20 annualized dividend and a yield of 4.12%. Algoma Steel Group’s dividend payout ratio (DPR) is -17.54%.

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.