Centaurus Financial Inc. acquired a new stake in shares of AK Steel Holding Co. (NYSE:AKS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 26,964 shares of the basic materials company’s stock, valued at approximately $117,000.
Several other large investors have also added to or reduced their stakes in AKS. PNC Financial Services Group Inc. lifted its holdings in shares of AK Steel by 106.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 22,076 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 11,370 shares in the last quarter. BB&T Securities LLC bought a new position in shares of AK Steel during the 1st quarter valued at about $104,000. Truepoint Inc. lifted its holdings in shares of AK Steel by 21,958.8% during the 2nd quarter. Truepoint Inc. now owns 30,000 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 29,864 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of AK Steel by 136.6% during the 1st quarter. SG Americas Securities LLC now owns 30,130 shares of the basic materials company’s stock valued at $136,000 after purchasing an additional 17,396 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of AK Steel by 199.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 30,484 shares of the basic materials company’s stock valued at $138,000 after purchasing an additional 20,292 shares in the last quarter. Institutional investors and hedge funds own 64.97% of the company’s stock.
AKS has been the topic of several recent analyst reports. Clarkson Capital upgraded AK Steel from a “neutral” rating to a “buy” rating in a report on Tuesday, September 11th. Bank of America upgraded AK Steel from an “underperform” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Friday, September 7th. Zacks Investment Research upgraded AK Steel from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a report on Tuesday, July 17th. ValuEngine lowered AK Steel from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 24th. Finally, Goldman Sachs Group lowered AK Steel from a “neutral” rating to a “sell” rating and set a $4.00 target price on the stock. in a research report on Tuesday, May 29th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $5.40.
Shares of AK Steel stock opened at $4.65 on Tuesday. AK Steel Holding Co. has a 52-week low of $4.00 and a 52-week high of $6.80. The company has a market capitalization of $1.50 billion, a P/E ratio of 15.00, a PEG ratio of 1.30 and a beta of 2.86. The company has a current ratio of 2.01, a quick ratio of 0.76 and a debt-to-equity ratio of 5.49.
AK Steel (NYSE:AKS) last announced its earnings results on Monday, July 30th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.01). AK Steel had a negative net margin of 0.44% and a positive return on equity of 33.56%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the business posted $0.19 EPS. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. research analysts forecast that AK Steel Holding Co. will post 0.73 earnings per share for the current year.
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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