Edge Wealth Management LLC Purchases New Position in AK Steel Holding Co. (AKS)

Edge Wealth Management LLC purchased a new stake in shares of AK Steel Holding Co. (NYSE:AKS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 50,000 shares of the basic materials company’s stock, valued at approximately $284,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D bought a new stake in shares of AK Steel during the third quarter valued at approximately $81,614,000. Dimensional Fund Advisors LP boosted its stake in AK Steel by 14.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,162,355 shares of the basic materials company’s stock valued at $40,489,000 after buying an additional 772,725 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in AK Steel by 10.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,165,221 shares of the basic materials company’s stock valued at $23,284,000 after buying an additional 404,540 shares in the last quarter. Northern Trust Corp boosted its stake in AK Steel by 3.6% in the 2nd quarter. Northern Trust Corp now owns 3,829,715 shares of the basic materials company’s stock valued at $25,160,000 after buying an additional 132,062 shares in the last quarter. Finally, Creative Planning boosted its stake in AK Steel by 66.7% in the 4th quarter. Creative Planning now owns 2,327,366 shares of the basic materials company’s stock valued at $13,173,000 after buying an additional 931,560 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.

A number of equities analysts have commented on AKS shares. BMO Capital Markets reissued a “hold” rating on shares of AK Steel in a research note on Thursday, November 2nd. Zacks Investment Research raised AK Steel from a “hold” rating to a “buy” rating and set a $7.50 price objective on the stock in a research note on Monday, January 8th. Cowen reissued a “hold” rating and issued a $7.00 price objective on shares of AK Steel in a research note on Thursday, January 4th. Citigroup cut their price target on AK Steel from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Finally, JPMorgan Chase & Co. cut their price target 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 issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $6.88.

AK Steel Holding Co. (NYSE:AKS) traded down $0.06 during trading hours on Friday, hitting $4.50. The company had a trading volume of 21,360,000 shares, compared to its average volume of 22,270,000. AK Steel Holding Co. has a fifty-two week low of $4.00 and a fifty-two week high of $9.19. The company has a debt-to-equity ratio of 15.72, a quick ratio of 0.69 and a current ratio of 1.83. The company has a market capitalization of $1,420.00, a P/E ratio of 225.00, a PEG ratio of 1.73 and a beta of 2.87.

AK Steel (NYSE:AKS) last issued its quarterly earnings results on Tuesday, January 30th. The basic materials company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.07. AK Steel had a return on equity of 70.67% and a net margin of 0.16%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. research analysts anticipate that AK Steel Holding Co. will post 0.53 EPS for the current year.

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AK Steel 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.

Institutional Ownership by Quarter for AK Steel (NYSE:AKS)

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