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Algoma Steel Group Inc. (NASDAQ:ASTL - Get Rating) saw a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 11,280,000 shares, a growth of 137.5% from the July 31st total of 4,750,000 shares. Approximately 40.2% of the shares of the stock are sold short. Based on an average daily volume of 2,080,000 shares, the short-interest ratio is presently 5.4 days. Institutional Trading of Algoma Steel Group

Large investors have recently made changes to their positions in the stock. Contrarius Investment Management Ltd acquired a new stake in shares of Algoma Steel Group during the first quarter valued at $14,664,000. Alden Global Capital LLC acquired a new stake in shares of Algoma Steel Group during the fourth quarter valued at $2,323,000. Yakira Capital Management Inc. acquired a new stake in Algoma Steel Group in the 4th quarter worth 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. Finally, PCJ Investment Counsel Ltd. acquired a new position in shares of Algoma Steel Group during the 4th quarter valued at about $2,154,000. Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lowered their target price on Algoma Steel Group from C$15.50 to C$15.00 in a report on Monday, July 25th.Algoma Steel Group Stock Up 0.6 %

Algoma Steel Group stock opened at $9.85 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.48 and a current ratio of 2.08. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 1.58 and a beta of 1.21. Algoma Steel Group has a fifty-two week low of $7.75 and a fifty-two week high of $13.65. The stock's fifty day moving average is $9.27 and its two-hundred day moving average is $9.65.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, August 31st will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Tuesday, August 30th. Algoma Steel Group's payout ratio is currently 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)Should AbbVie Inc. Have a Place in Your Dividend Portfolio? Is PayPal A Buy After Post-Earnings Price Jump? Williams-Sonoma’s High-End Consumers Are Still Spending Snowflake Stock Soars On Strong ResultsShockWave Stuns With 40% Post-Earnings Price Move: Is It A Buy?

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