Algoma Steel Group Target of Unusually Large Options Trading (NASDAQ:ASTL)

Algoma Steel Group Inc. (NASDAQ:ASTL) saw unusually large options trading on Tuesday. Stock traders bought 20,493 call options on the company. This represents an increase of 616% compared to the average volume of 2,861 call options.

Wall Street Analyst Weigh In

ASTL has been the topic of a number of research reports. BMO Capital Markets downgraded Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a report on Monday, June 2nd. Royal Bank Of Canada upgraded Algoma Steel Group to a “hold” rating in a report on Tuesday, April 22nd. Finally, Stifel Canada downgraded Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th.

Algoma Steel Group Stock Performance

Algoma Steel Group stock opened at $6.89 on Wednesday. The stock’s 50-day moving average is $5.65 and its 200-day moving average is $6.92. The company has a market cap of $722.97 million, a price-to-earnings ratio of -4.47 and a beta of 1.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.10 and a quick ratio of 1.47. Algoma Steel Group has a 12 month low of $4.17 and a 12 month high of $12.14.

Algoma Steel Group (NASDAQ:ASTL) last posted its earnings results on Tuesday, April 29th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.36. Algoma Steel Group had a negative return on equity of 12.98% and a negative net margin of 8.15%. The business had revenue of $359.30 million during the quarter, compared to analyst estimates of $327.56 million. Equities analysts anticipate that Algoma Steel Group will post -0.63 earnings per share for the current year.

Algoma Steel Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Tuesday, May 13th were paid a $0.05 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.90%. Algoma Steel Group’s dividend payout ratio (DPR) is currently -12.99%.

Institutional Investors Weigh In On Algoma Steel Group

A number of large investors have recently modified their holdings of ASTL. EJF Capital LLC acquired a new stake in shares of Algoma Steel Group in the first quarter valued at about $60,000. Aquatic Capital Management LLC acquired a new stake in Algoma Steel Group during the 4th quarter valued at approximately $64,000. Aigen Investment Management LP acquired a new stake in Algoma Steel Group during the 1st quarter valued at approximately $69,000. Squarepoint Ops LLC acquired a new stake in Algoma Steel Group during the 4th quarter valued at approximately $114,000. Finally, Two Sigma Advisers LP acquired a new stake in Algoma Steel Group during the 4th quarter valued at approximately $117,000. Institutional investors and hedge funds own 72.00% of the company’s stock.

About Algoma Steel Group

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.