Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

Algoma Steel Group Inc. (NASDAQ:ASTL - Get Rating) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 4,750,000 shares, a growth of 53.2% from the July 15th total of 3,100,000 shares. Based on an average trading volume of 2,000,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 17.0% of the shares of the stock are sold short. Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Alden Global Capital LLC purchased a new position in shares of Algoma Steel Group during the 4th quarter worth $2,323,000. Yakira Capital Management Inc. purchased a new stake in Algoma Steel Group in the 4th quarter valued at about $185,000. Marathon Asset Management LP purchased a new stake in Algoma Steel Group in the 4th quarter valued at about $18,399,000. PCJ Investment Counsel Ltd. purchased a new stake in Algoma Steel Group in the 4th quarter valued at about $2,154,000. Finally, ARS Investment Partners LLC purchased a new stake in Algoma Steel Group in the 4th quarter valued at about $630,000. Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus dropped their price target on shares of Algoma Steel Group from C$15.50 to C$15.00 in a research note on Monday, July 25th.Algoma Steel Group Trading Down 0.4 %

Shares of ASTL opened at $9.33 on Friday. Algoma Steel Group has a 52-week low of $7.75 and a 52-week high of $13.65. The company has a quick ratio of 1.48, a current ratio of 2.08 and a debt-to-equity ratio of 0.06. The firm's fifty day moving average is $9.17 and its two-hundred day moving average is $9.61. The stock has a market cap of $1.37 billion, a PE ratio of 1.50 and a beta of 1.21.

Algoma Steel Group (NASDAQ:ASTL - Get Rating) last announced its earnings results on Tuesday, June 14th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.05. Algoma Steel Group had a net margin of 24.16% and a return on equity of 83.33%. The company had revenue of $743.53 million for the quarter, compared to analysts' expectations of $722.06 million. Research analysts forecast that Algoma Steel Group will post 3.32 earnings per share for the current fiscal year. Algoma Steel Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, August 31st will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $0.20 annualized dividend and a dividend yield of 2.14%. Algoma Steel Group's dividend payout ratio is presently 3.21%. Algoma Steel Group Company Profile (Get Rating)

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.Featured ArticlesGet a free copy of the StockNews.com research report on Algoma Steel Group (ASTL)Look at Honeywell for a Steady and Diversified StockWhy Invest in High-Yield Dividend Stocks?Find and Profitably Trade Stocks at 52-Week LowsDisney (NYSE: DIS) Shares Just Gave Investors A Massive SignalSolar Stocks Shine Brightly After Passage Of Clean Energy Bill

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Before you consider Algoma Steel Group, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Algoma Steel Group wasn't on the list.

While Algoma Steel Group currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Complete the form below to receive the latest headlines and analysts' recommendations for your stocks with our free daily email newsletter:

What investors can learn from studying the past, as well as offering some ideas about asset classes with future potential.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

Twitter Facebook StockTwits Financial Juice YouTube

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved. 326 E 8th St #105, Sioux Falls, SD 57103 | contact@marketbeat.com | (844) 978-6257 MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security. Our Accessibility Statement | Terms of Service | Privacy Policy | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart's disclaimer.