SG Americas Securities LLC bought a new stake in AK Steel Holding Co. (NYSE:AKS) during the first quarter, Holdings Channel reports. The institutional investor bought 775,639 shares of the basic materials company’s stock, valued at approximately $5,577,000.
Several other hedge funds have also added to or reduced their stakes in AKS. Stifel Financial Corp acquired a new stake in AK Steel Holding during the first quarter valued at $110,000. Elkfork Partners LLC acquired a new stake in AK Steel Holding during the fourth quarter valued at $112,000. Meadow Creek Investment Management LLC increased its stake in AK Steel Holding by 14.6% in the first quarter. Meadow Creek Investment Management LLC now owns 16,016 shares of the basic materials company’s stock valued at $115,000 after buying an additional 2,044 shares during the period. Boothbay Fund Management LLC acquired a new stake in AK Steel Holding during the fourth quarter valued at $123,000. Finally, Wedbush Securities Inc. acquired a new stake in AK Steel Holding during the first quarter valued at $128,000. Institutional investors and hedge funds own 62.21% of the company’s stock.
Shares of AK Steel Holding Co. (NYSE:AKS) traded up 1.83% during trading on Friday, reaching $5.55. 11,852,441 shares of the company’s stock were exchanged. The company has a market capitalization of $1.75 billion, a P/E ratio of 21.51 and a beta of 2.60. The stock has a 50-day moving average price of $6.35 and a 200 day moving average price of $8.13. AK Steel Holding Co. has a 12-month low of $3.40 and a 12-month high of $11.39. AK Steel Holding also saw some unusual options trading on Friday. Traders purchased 3,160 call options on the company. This is an increase of approximately 228% compared to the average volume of 962 call options.
AK Steel Holding (NYSE:AKS) last posted its quarterly earnings results on Tuesday, April 25th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.49 billion. AK Steel Holding had a negative return on equity of 47.34% and a negative net margin of 0.13%. AK Steel Holding’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) EPS. Equities analysts expect that AK Steel Holding Co. will post $0.66 EPS for the current fiscal year.
Several analysts have recently weighed in on AKS shares. Jefferies Group LLC reiterated a “buy” rating and set a $11.50 target price on shares of AK Steel Holding in a research report on Wednesday, January 25th. Vetr upgraded AK Steel Holding from a “hold” rating to a “buy” rating and set a $8.17 target price for the company in a research report on Wednesday, February 1st. TheStreet upgraded AK Steel Holding from a “d+” rating to a “c” rating in a research report on Tuesday, April 25th. Morgan Stanley downgraded AK Steel Holding from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $8.39 to $11.00 in a research report on Monday, February 13th. Finally, Barclays PLC decreased their target price on AK Steel Holding from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. AK Steel Holding currently has an average rating of “Hold” and a consensus price target of $8.05.
AK Steel Holding 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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