LPL Financial LLC increased its position in shares of AK Steel Holding (NYSE:AKS) by 85.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,550 shares of the basic materials company’s stock after purchasing an additional 37,522 shares during the quarter. LPL Financial LLC’s holdings in AK Steel were worth $462,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in AKS. Crow Point Partners LLC acquired a new stake in AK Steel in the 4th quarter valued at about $110,000. Delpha Capital Management LLC acquired a new stake in AK Steel in the 4th quarter valued at about $123,000. Hourglass Capital LLC acquired a new stake in AK Steel in the 4th quarter valued at about $133,000. Oppenheimer & Co. Inc. acquired a new stake in AK Steel in the 4th quarter valued at about $155,000. Finally, Granite Springs Asset Management LLC acquired a new stake in AK Steel in the 4th quarter valued at about $174,000. Institutional investors and hedge funds own 67.84% of the company’s stock.
Several equities research analysts have weighed in on AKS shares. Longbow Research upgraded shares of AK Steel from a “neutral” rating to a “buy” rating and raised their price objective for the company from $5.53 to $7.00 in a research report on Wednesday, December 20th. Cowen restated a “hold” rating and issued a $7.00 price objective on shares of AK Steel in a research report on Thursday, January 4th. Zacks Investment Research upgraded shares of AK Steel from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a research report on Monday, January 8th. Jefferies Group cut shares of AK Steel from a “buy” rating to a “hold” rating and lowered their price objective for the company from $6.64 to $6.50 in a research report on Tuesday, January 9th. Finally, Bank of America cut shares of AK Steel from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $8.00 to $5.50 in a research report on Wednesday, January 31st. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. AK Steel has an average rating of “Hold” and a consensus target price of $6.42.
AK Steel stock opened at $4.82 on Thursday. AK Steel Holding has a fifty-two week low of $4.00 and a fifty-two week high of $7.54. The company has a market cap of $1,428.23, a P/E ratio of 15.55, a PEG ratio of 1.43 and a beta of 2.89. The company has a debt-to-equity ratio of 16.33, a quick ratio of 0.69 and a current ratio of 1.83.
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, topping the consensus estimate of ($0.13) by $0.07. AK Steel had a net margin of 0.16% and a return on equity of 71.24%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm earned $0.25 EPS. AK Steel’s quarterly revenue was up 5.4% compared to the same quarter last year. analysts expect that AK Steel Holding will post 0.63 EPS for the current fiscal year.
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AK Steel Profile
AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, stainless, and electrical steels, and tubular products in the United States and internationally. It produces flat-rolled carbon steel products, including coated, cold-rolled, and hot-rolled carbon steel products; grain-oriented specialty stainless and electrical steels; and carbon and stainless steel tubing products.
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