Granite Springs Asset Management LLC purchased a new position in AK Steel Holding Co. (NYSE:AKS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 30,700 shares of the basic materials company’s stock, valued at approximately $174,000.
Several other large investors have also bought and sold shares of the company. Stevens Capital Management LP acquired a new position in shares of AK Steel in the third quarter valued at approximately $488,000. Royce & Associates LP increased its stake in AK Steel by 18.8% in the 4th quarter. Royce & Associates LP now owns 2,176,109 shares of the basic materials company’s stock valued at $12,317,000 after buying an additional 345,000 shares during the period. Pinebridge Investments L.P. increased its stake in AK Steel by 52.4% in the 4th quarter. Pinebridge Investments L.P. now owns 302,563 shares of the basic materials company’s stock valued at $1,712,000 after buying an additional 104,043 shares during the period. OppenheimerFunds Inc. grew its stake in shares of AK Steel by 5.9% during the 4th quarter. OppenheimerFunds Inc. now owns 749,320 shares of the basic materials company’s stock worth $4,241,000 after purchasing an additional 41,815 shares during the period. Finally, CIBC Asset Management Inc grew its stake in shares of AK Steel by 68.0% during the 4th quarter. CIBC Asset Management Inc now owns 39,756 shares of the basic materials company’s stock worth $225,000 after purchasing an additional 16,094 shares during the period. 67.81% of the stock is currently owned by hedge funds and other institutional investors.
AK Steel Holding Co. (NYSE:AKS) traded up $0.20 during trading hours on Friday, reaching $5.13. The company had a trading volume of 21,638,802 shares, compared to its average volume of 23,111,220. The firm has a market capitalization of $1,617.41, a price-to-earnings ratio of 256.63, a P/E/G ratio of 1.82 and a beta of 2.74. AK Steel Holding Co. has a 1 year low of $4.00 and a 1 year high of $8.56. 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 issued its quarterly earnings results on Tuesday, January 30th. The basic materials company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.07. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.46 billion. AK Steel had a return on equity of 71.24% and a net margin of 0.16%. AK Steel’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. equities analysts anticipate that AK Steel Holding Co. will post 0.56 earnings per share for the current fiscal year.
AKS has been the topic of a number of research reports. Longbow Research raised shares of AK Steel from a “neutral” rating to a “buy” rating and increased their price objective for the company from $5.53 to $7.00 in a research note on Wednesday, December 20th. Zacks Investment Research upgraded shares of AK Steel from a “hold” rating to a “buy” rating and set a $7.50 target price on the stock in a report on Monday, January 8th. JPMorgan Chase & Co. upgraded shares of AK Steel from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $6.00 to $7.00 in a report on Thursday, December 7th. Bank of America lowered shares of AK Steel from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $8.00 to $5.50 in a report on Wednesday, January 31st. Finally, Credit Suisse Group raised shares of AK Steel from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $6.00 to $7.00 in a research report on Tuesday, November 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.69.
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AK Steel 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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