Algoma Steel Group Inc. (NASDAQ:ASTL – Get Free Report)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $7.86, but opened at $8.08. Algoma Steel Group shares last traded at $7.88, with a volume of 49,947 shares.
Algoma Steel Group Trading Up 0.9 %
The company has a 50 day simple moving average of $8.12 and a 200 day simple moving average of $8.13. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.98 and a current ratio of 2.88. The company has a market capitalization of $825.51 million, a PE ratio of 78.60 and a beta of 1.52.
Algoma Steel Group (NASDAQ:ASTL – Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $452.07 million for the quarter, compared to analysts’ expectations of $453.22 million. Analysts anticipate that Algoma Steel Group Inc. will post 0.78 earnings per share for the current year.
Algoma Steel Group Cuts Dividend
Institutional Investors Weigh In On Algoma Steel Group
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new stake in shares of Algoma Steel Group in the fourth quarter valued at approximately $114,000. GSA Capital Partners LLP grew its position in Algoma Steel Group by 49.1% in the fourth quarter. GSA Capital Partners LLP now owns 48,320 shares of the company’s stock worth $485,000 after acquiring an additional 15,922 shares during the period. Legal & General Group Plc grew its position in Algoma Steel Group by 5.1% in the fourth quarter. Legal & General Group Plc now owns 76,209 shares of the company’s stock worth $769,000 after acquiring an additional 3,700 shares during the period. Barclays PLC grew its position in Algoma Steel Group by 11.6% in the fourth quarter. Barclays PLC now owns 25,939 shares of the company’s stock worth $260,000 after acquiring an additional 2,704 shares during the period. Finally, Nuveen Asset Management LLC purchased a new position in Algoma Steel Group in the fourth quarter worth approximately $710,000. Institutional investors and hedge funds own 72.00% of the company’s stock.
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.
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