DekaBank Deutsche Girozentrale purchased a new position in Algoma Steel Group Inc. (NASDAQ:ASTL – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 19,403 shares of the company's stock, valued at approximately $130,000.

Other institutional investors also recently added to or reduced their stakes in the company. Ulland Investment Advisors LLC purchased a new position in Algoma Steel Group during the 2nd quarter valued at about $55,000. National Bank of Canada FI increased its position in Algoma Steel Group by 198.6% during the 2nd quarter. National Bank of Canada FI now owns 8,958 shares of the company's stock valued at $80,000 after purchasing an additional 5,958 shares during the period. Shell Asset Management Co. purchased a new position in Algoma Steel Group during the 2nd quarter valued at about $86,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Algoma Steel Group during the 2nd quarter valued at about $93,000. Finally, Bluefin Capital Management LLC purchased a new position in Algoma Steel Group during the 2nd quarter valued at about $95,000. Hedge funds and other institutional investors own 63.83% of the company's stock.

Wall Street Analysts Forecast Growth

ASTL has been the topic of a number of research reports. BMO Capital Markets cut their target price on shares of Algoma Steel Group from C$14.00 to C$11.00 in a research report on Tuesday, January 10th. Stifel Nicolaus raised shares of Algoma Steel Group from a "hold" rating to a "buy" rating in a research report on Wednesday, January 18th.

Algoma Steel Group Stock Up 2.6 %

Algoma Steel Group (NASDAQ:ASTL – Get Rating) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.05. Algoma Steel Group had a net margin of 21.31% and a return on equity of 56.35%. The firm had revenue of $459.36 million for the quarter, compared to the consensus estimate of $462.92 million. On average, sell-side analysts predict that Algoma Steel Group Inc. will post 1.18 EPS for the current fiscal year.

Algoma Steel Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Wednesday, November 30th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Tuesday, November 29th. Algoma Steel Group's dividend payout ratio (DPR) is presently 6.01%.

Algoma Steel Group Company Profile

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Algoma Steel Group Inc produces and sells steel products primarily in North America. It 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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