Louisiana State Employees Retirement System decreased its holdings in shares of AK Steel Holding Co. (NYSE:AKS) by 14.8% in the fourth quarter, Holdings Channel reports. The firm owned 118,450 shares of the basic materials company’s stock after selling 20,650 shares during the quarter. Louisiana State Employees Retirement System’s holdings in AK Steel were worth $267,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AKS. Vanguard Group Inc boosted its stake in AK Steel by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 32,062,343 shares of the basic materials company’s stock valued at $157,105,000 after purchasing an additional 531,265 shares during the last quarter. Vanguard Group Inc. boosted its stake in AK Steel by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 32,062,343 shares of the basic materials company’s stock valued at $157,105,000 after purchasing an additional 531,265 shares during the last quarter. Legal & General Group Plc boosted its stake in AK Steel by 6.5% during the 3rd quarter. Legal & General Group Plc now owns 848,167 shares of the basic materials company’s stock valued at $4,141,000 after purchasing an additional 52,107 shares during the last quarter. Teachers Advisors LLC boosted its stake in AK Steel by 374.7% during the 3rd quarter. Teachers Advisors LLC now owns 2,908,497 shares of the basic materials company’s stock valued at $14,252,000 after purchasing an additional 2,295,750 shares during the last quarter. Finally, HRT Financial LLC purchased a new stake in AK Steel during the 3rd quarter valued at $146,000. 65.88% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Roger K. Newport bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The shares were bought at an average cost of $3.03 per share, with a total value of $30,300.00. Following the acquisition, the chief executive officer now owns 461,297 shares in the company, valued at $1,397,729.91. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.13% of the stock is currently owned by company insiders.
AKS has been the topic of several recent analyst reports. Seaport Global Securities started coverage on AK Steel in a research note on Thursday, October 11th. They set a “neutral” rating and a $5.00 target price on the stock. ValuEngine downgraded AK Steel from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. Morgan Stanley set a $5.00 price target on AK Steel and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Zacks Investment Research upgraded AK Steel from a “sell” rating to a “hold” rating in a research note on Monday, November 12th. Finally, Cowen started coverage on AK Steel in a research note on Tuesday, January 8th. They issued a “market perform” rating and a $2.50 price target on the stock. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $3.90.
AKS stock opened at $3.16 on Wednesday. The firm has a market capitalization of $946.63 million, a PE ratio of 4.94, a PEG ratio of 1.01 and a beta of 2.73. AK Steel Holding Co. has a 1 year low of $2.05 and a 1 year high of $6.14. The company has a current ratio of 1.95, a quick ratio of 0.69 and a debt-to-equity ratio of 4.64.
AK Steel (NYSE:AKS) last released its quarterly earnings results on Monday, January 28th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.70 billion. AK Steel had a return on equity of 54.01% and a net margin of 2.73%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the business posted ($0.06) EPS. On average, equities research analysts expect that AK Steel Holding Co. will post 0.59 earnings per share for the current fiscal year.
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About AK Steel
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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