JPMorgan Chase & Co. raised its stake in shares of AK Steel Holding Corp. (NYSE:AKS) by 202.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,070,732 shares of the company’s stock after buying an additional 717,182 shares during the period. JPMorgan Chase & Co. owned 0.45% of AK Steel Holding Corp. worth $4,990,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in AK Steel Holding Corp. by 61.5% in the first quarter. BlackRock Inc. now owns 24,495 shares of the company’s stock valued at $101,000 after buying an additional 9,327 shares during the period. Quantbot Technologies LP acquired a new stake in AK Steel Holding Corp. during the second quarter valued at approximately $148,000. Societe Generale acquired a new stake in AK Steel Holding Corp. during the second quarter valued at approximately $164,000. SG Americas Securities LLC boosted its stake in AK Steel Holding Corp. by 18.6% in the second quarter. SG Americas Securities LLC now owns 35,115 shares of the company’s stock valued at $164,000 after buying an additional 5,510 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in AK Steel Holding Corp. during the second quarter valued at approximately $244,000. 68.71% of the stock is currently owned by institutional investors.
AK Steel Holding Corp. (NYSE:AKS) traded up 1.432% during mid-day trading on Friday, reaching $4.605. The company’s stock had a trading volume of 1,530,384 shares. AK Steel Holding Corp. has a 12-month low of $1.64 and a 12-month high of $7.09. The firm’s 50 day moving average is $4.57 and its 200-day moving average is $4.71. The company’s market cap is $1.10 billion.
AK Steel Holding Corp. (NYSE:AKS) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.53 billion. AK Steel Holding Corp. had a negative return on equity of 12.89% and a negative net margin of 2.18%. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.36) EPS. Equities analysts anticipate that AK Steel Holding Corp. will post $0.32 earnings per share for the current fiscal year.
Several research firms recently commented on AKS. Zacks Investment Research raised AK Steel Holding Corp. from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a research report on Tuesday, June 28th. Bank of America Corp. reaffirmed a “sell” rating on shares of AK Steel Holding Corp. in a research report on Thursday, June 16th. KeyCorp cut AK Steel Holding Corp. from a “sector weight” rating to an “underweight” rating and dropped their price objective for the company from $5.15 to $4.00 in a research report on Friday, August 19th. Barclays PLC increased their price objective on AK Steel Holding Corp. from $4.00 to $5.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 12th. Finally, Credit Suisse Group AG reissued an “outperform” rating on shares of AK Steel Holding Corp. in a research report on Wednesday, July 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $5.30.
In other AK Steel Holding Corp. news, Director Vicente Wright sold 27,000 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $6.70, for a total transaction of $180,900.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.
AK Steel Holding Corp. Company Profile
AK Steel Holding Corporation is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company operates approximately eight steelmaking and finishing plants, over two coke plants and approximately two tube manufacturing plants across states, which include Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.
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