Algoma Steel Group Inc. $ASTL Shares Acquired by Littlejohn & Co. LLC

Littlejohn & Co. LLC increased its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL) by 27.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,446,503 shares of the company’s stock after purchasing an additional 752,616 shares during the period. Algoma Steel Group makes up approximately 7.4% of Littlejohn & Co. LLC’s holdings, making the stock its 6th largest position. Littlejohn & Co. LLC owned 3.28% of Algoma Steel Group worth $14,131,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ASTL. MMCAP International Inc. SPC lifted its holdings in shares of Algoma Steel Group by 11.9% in the third quarter. MMCAP International Inc. SPC now owns 8,078,828 shares of the company’s stock valued at $28,720,000 after purchasing an additional 860,610 shares in the last quarter. UBS Group AG lifted its holdings in shares of Algoma Steel Group by 64.7% in the fourth quarter. UBS Group AG now owns 944,764 shares of the company’s stock valued at $3,874,000 after purchasing an additional 371,288 shares in the last quarter. Prescott Group Capital Management L.L.C. bought a new position in shares of Algoma Steel Group in the fourth quarter valued at approximately $948,000. Quantbot Technologies LP lifted its holdings in shares of Algoma Steel Group by 126.8% in the third quarter. Quantbot Technologies LP now owns 188,597 shares of the company’s stock valued at $670,000 after purchasing an additional 105,428 shares in the last quarter. Finally, Readystate Asset Management LP lifted its holdings in shares of Algoma Steel Group by 13.3% in the third quarter. Readystate Asset Management LP now owns 640,324 shares of the company’s stock valued at $2,276,000 after purchasing an additional 75,099 shares in the last quarter. Institutional investors and hedge funds own 72.00% of the company’s stock.

Wall Street Analysts Forecast Growth

ASTL has been the topic of several research analyst reports. Royal Bank Of Canada reissued a “sector perform” rating on shares of Algoma Steel Group in a research report on Thursday, May 14th. Zacks Research cut Algoma Steel Group from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Algoma Steel Group in a research report on Friday, March 27th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Algoma Steel Group Stock Down 9.5%

ASTL stock opened at $4.96 on Friday. The stock’s fifty day simple moving average is $4.83 and its two-hundred day simple moving average is $4.45. The company has a current ratio of 2.45, a quick ratio of 1.22 and a debt-to-equity ratio of 2.19. Algoma Steel Group Inc. has a 1-year low of $3.02 and a 1-year high of $7.24. The stock has a market cap of $522.73 million, a P/E ratio of -0.67 and a beta of 1.60.

Algoma Steel Group (NASDAQ:ASTL) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.28). Algoma Steel Group had a negative return on equity of 75.76% and a negative net margin of 60.03%.The business had revenue of $216.44 million during the quarter, compared to analysts’ expectations of $217.57 million. Analysts expect that Algoma Steel Group Inc. will post -2.27 EPS for the current year.

About Algoma Steel Group

Algoma Steel Group Inc is a North American steel producer headquartered in Sault Ste. Marie, Ontario. The company operates a modern electric arc furnace (EAF) complex and an integrated rolling mill, enabling it to transform scrap and direct reduced iron into a wide range of steel products. Algoma Steel Group returned to public markets in 2021 with listings on both the Toronto Stock Exchange and the Nasdaq under the symbol ASTL.

Founded in 1901 as Algoma Steel Corporation, the company grew to become one of Canada’s leading steelmakers before undergoing restructuring in the early 2000s.