AK Steel Holding Corporation (NYSE:AKS) was the target of a significant drop in short interest during the month of September. As of September 29th, there was short interest totalling 59,593,590 shares, a drop of 18.6% from the September 15th total of 73,249,148 shares. Approximately 19.3% of the shares of the stock are short sold. Based on an average trading volume of 14,748,768 shares, the short-interest ratio is currently 4.0 days.
Shares of AK Steel Holding Corporation (NYSE:AKS) opened at 6.05 on Friday. The firm has a market cap of $1.90 billion, a PE ratio of 15.84 and a beta of 2.91. AK Steel Holding Corporation has a 1-year low of $4.93 and a 1-year high of $11.39. The firm’s 50-day moving average price is $5.69 and its 200 day moving average price is $5.92.
AK Steel Holding Corporation (NYSE:AKS) last issued its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.13 by $0.06. AK Steel Holding Corporation had a net margin of 1.88% and a return on equity of 735.25%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter last year, the company posted $0.08 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts forecast that AK Steel Holding Corporation will post $0.49 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AKS. Crossmark Global Holdings Inc. acquired a new position in shares of AK Steel Holding Corporation during the third quarter valued at approximately $290,000. Peregrine Capital Management LLC increased its stake in shares of AK Steel Holding Corporation by 2.1% during the third quarter. Peregrine Capital Management LLC now owns 579,062 shares of the basic materials company’s stock valued at $3,237,000 after acquiring an additional 11,761 shares during the period. New Jersey Better Educational Savings Trust acquired a new position in AK Steel Holding Corporation in the third quarter worth approximately $1,118,000. Supplemental Annuity Collective Trust of NJ acquired a new position in AK Steel Holding Corporation in the third quarter worth approximately $2,068,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in AK Steel Holding Corporation in the third quarter worth approximately $81,614,000. 71.01% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on the company. Longbow Research restated a “neutral” rating on shares of AK Steel Holding Corporation in a report on Tuesday, October 3rd. Cowen and Company reiterated a “hold” rating and issued a $6.00 price objective on shares of AK Steel Holding Corporation in a report on Tuesday. Jefferies Group LLC restated a “buy” rating on shares of AK Steel Holding Corporation in a research note on Thursday, July 27th. BMO Capital Markets reaffirmed a “hold” rating and set a $7.00 price objective on shares of AK Steel Holding Corporation in a research report on Thursday, October 5th. Finally, Zacks Investment Research cut AK Steel Holding Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Ten equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. AK Steel Holding Corporation presently has a consensus rating of “Hold” and an average price target of $8.21.
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AK Steel Holding Corporation Company Profile
AK Steel Holding Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company also operates blast furnaces and electric arc furnaces. As of December 31, 2016, its operations included eight steelmaking and finishing plants, two coke plants and two tube manufacturing plants across states, including Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia, and a tube manufacturing plant in Mexico.
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