Teachers Advisors LLC raised its position in shares of AK Steel Holding Co. (NYSE:AKS) by 172.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,963,762 shares of the basic materials company’s stock after buying an additional 3,141,703 shares during the period. Teachers Advisors LLC owned 1.58% of AK Steel Holding worth $50,680,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. Wedbush Securities Inc. bought a new position in shares of AK Steel Holding during the third quarter worth approximately $120,000. JPMorgan Chase & Co. boosted its position in shares of AK Steel Holding by 395.7% in the third quarter. JPMorgan Chase & Co. now owns 5,307,865 shares of the basic materials company’s stock worth $25,637,000 after buying an additional 4,237,133 shares during the period. Sei Investments Co. bought a new position in shares of AK Steel Holding during the third quarter worth approximately $2,987,000. UBS Asset Management Americas Inc. boosted its position in shares of AK Steel Holding by 18.2% in the third quarter. UBS Asset Management Americas Inc. now owns 179,577 shares of the basic materials company’s stock worth $868,000 after buying an additional 27,713 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of AK Steel Holding during the third quarter worth approximately $19,565,000. Hedge funds and other institutional investors own 62.21% of the company’s stock.
Shares of AK Steel Holding Co. (NYSE:AKS) traded up 7.48% during trading on Thursday, reaching $6.75. The company had a trading volume of 21,246,748 shares. The stock’s 50-day moving average price is $7.46 and its 200-day moving average price is $7.97. The company’s market capitalization is $2.12 billion. AK Steel Holding Co. has a 52 week low of $3.31 and a 52 week high of $11.39.
AK Steel Holding (NYSE:AKS) last released its earnings results on Tuesday, January 24th. The basic materials company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.18. The firm earned $1.42 billion during the quarter, compared to analysts’ expectations of $1.42 billion. AK Steel Holding had a negative net margin of 0.13% and a negative return on equity of 47.34%. AK Steel Holding’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 EPS. On average, equities analysts expect that AK Steel Holding Co. will post $0.68 EPS for the current fiscal year.
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Several equities analysts have recently issued reports on the company. Morgan Stanley cut AK Steel Holding from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $8.39 to $11.00 in a research note on Monday, February 13th. Vetr raised AK Steel Holding from a “sell” rating to a “hold” rating and set a $8.49 target price on the stock in a research note on Tuesday, February 14th. Citigroup Inc lowered AK Steel Holding from a “neutral” rating to a “sell” rating and set a $8.00 price target on the stock. in a research report on Thursday, January 19th. Jefferies Group LLC restated a “hold” rating and set a $9.00 price target (down from $11.50) on shares of AK Steel Holding in a research report on Wednesday. Finally, JPMorgan Chase & Co. downgraded AK Steel Holding from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a report on Wednesday, January 25th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price 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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