AK Steel Holding Co. (AKS) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lessened its position in AK Steel Holding Co. (NYSE:AKS) by 40.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,946 shares of the basic materials company’s stock after selling 16,093 shares during the quarter. Private Advisor Group LLC’s holdings in AK Steel were worth $106,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of AKS. Polar Asset Management Partners Inc. purchased a new stake in shares of AK Steel in the 1st quarter valued at approximately $6,771,000. KBC Group NV purchased a new stake in shares of AK Steel in the 1st quarter valued at approximately $3,536,000. JPMorgan Chase & Co. lifted its position in shares of AK Steel by 16.9% in the 1st quarter. JPMorgan Chase & Co. now owns 4,789,705 shares of the basic materials company’s stock valued at $21,698,000 after acquiring an additional 691,938 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of AK Steel by 11.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,897,010 shares of the basic materials company’s stock valued at $31,243,000 after acquiring an additional 680,933 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of AK Steel by 1.4% in the 1st quarter. BlackRock Inc. now owns 42,571,134 shares of the basic materials company’s stock valued at $192,846,000 after acquiring an additional 599,843 shares in the last quarter. Institutional investors and hedge funds own 64.98% of the company’s stock.

In other AK Steel news, CEO Roger K. Newport purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were bought at an average price of $4.03 per share, for a total transaction of $40,300.00. Following the purchase, the chief executive officer now directly owns 451,297 shares in the company, valued at approximately $1,818,726.91. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.13% of the company’s stock.

Several research firms have weighed in on AKS. ValuEngine lowered shares of AK Steel from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Bank of America upgraded shares of AK Steel from an “underperform” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Friday, September 7th. Clarkson Capital upgraded shares of AK Steel from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 11th. Zacks Investment Research upgraded shares of AK Steel from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research note on Tuesday, July 17th. Finally, Deutsche Bank lowered shares of AK Steel from a “buy” rating to a “hold” rating and dropped their price objective for the company from $6.00 to $5.00 in a research note on Monday, July 9th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. AK Steel presently has a consensus rating of “Hold” and an average target price of $5.40.

Shares of AKS opened at $4.37 on Friday. AK Steel Holding Co. has a 12 month low of $4.00 and a 12 month high of $6.80. The firm has a market cap of $1.39 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 1.21 and a beta of 2.85. 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 quarterly earnings results on Monday, July 30th. The basic materials company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). AK Steel had a positive return on equity of 33.56% and a negative net margin of 0.44%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the company earned $0.19 EPS. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. equities research analysts forecast that AK Steel Holding Co. will post 0.73 earnings per share for the current fiscal year.

AK Steel Profile

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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Institutional Ownership by Quarter for AK Steel (NYSE:AKS)

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