Shares of AK Steel Holding Co. (NYSE:AKS) rose 0.8% during trading on Tuesday . The stock traded as high as $6.14 and last traded at $5.91. Approximately 21,540,000 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 24,060,000 shares. The stock had previously closed at $5.96.
AKS has been the subject of several recent analyst reports. Jefferies Group cut AK Steel from a “buy” rating to a “hold” rating and lowered their price target for the company from $6.64 to $6.50 in a report on Tuesday, January 9th. Cowen restated a “hold” rating and issued a $6.00 price target on shares of AK Steel in a report on Tuesday, October 24th. Bank of America lowered AK Steel from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $8.00 to $5.50 in a research note on Wednesday, January 31st. BMO Capital Markets reaffirmed a “hold” rating on shares of AK Steel in a research note on Thursday, November 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on AK Steel from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $6.88.
The firm has a market cap of $1,850.00, a P/E ratio of 52.92, a price-to-earnings-growth ratio of 2.24 and a beta of 2.87. The company has a current ratio of 1.83, a quick ratio of 0.69 and a debt-to-equity ratio of 16.33.
AK Steel (NYSE:AKS) last released its quarterly earnings data on Tuesday, January 30th. The basic materials company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.07. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. AK Steel had a return on equity of 71.24% and a net margin of 0.16%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. research analysts expect that AK Steel Holding Co. will post 0.53 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in AKS. Parametric Portfolio Associates LLC lifted its position in AK Steel by 9.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 475,697 shares of the basic materials company’s stock worth $3,125,000 after acquiring an additional 39,824 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in AK Steel by 14.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,162,355 shares of the basic materials company’s stock worth $40,489,000 after acquiring an additional 772,725 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in AK Steel by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 245,143 shares of the basic materials company’s stock worth $1,611,000 after acquiring an additional 5,008 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in AK Steel by 0.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 21,887 shares of the basic materials company’s stock worth $144,000 after acquiring an additional 193 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in AK Steel by 6.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 27,698 shares of the basic materials company’s stock worth $182,000 after acquiring an additional 1,710 shares in the last quarter. 67.79% of the stock is currently owned by hedge funds and other institutional investors.
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About AK Steel
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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