Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of AK Steel Holding Co. (NYSE:AKS) by 4.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,174 shares of the basic materials company’s stock after purchasing an additional 5,640 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in AK Steel were worth $285,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Naples Global Advisors LLC bought a new position in shares of AK Steel during the 2nd quarter worth approximately $25,000. Public Employees Retirement System of Ohio boosted its holdings in AK Steel by 27.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 30,376 shares of the basic materials company’s stock valued at $72,000 after purchasing an additional 6,526 shares during the period. Financial Advocates Investment Management boosted its holdings in AK Steel by 133.8% in the 2nd quarter. Financial Advocates Investment Management now owns 33,725 shares of the basic materials company’s stock valued at $80,000 after purchasing an additional 19,300 shares during the period. NEXT Financial Group Inc boosted its holdings in AK Steel by 18.4% in the 2nd quarter. NEXT Financial Group Inc now owns 35,213 shares of the basic materials company’s stock valued at $83,000 after purchasing an additional 5,463 shares during the period. Finally, Frontier Wealth Management LLC boosted its holdings in AK Steel by 261.9% in the 2nd quarter. Frontier Wealth Management LLC now owns 39,826 shares of the basic materials company’s stock valued at $94,000 after purchasing an additional 28,821 shares during the period. 56.81% of the stock is currently owned by institutional investors.
AKS traded up $0.03 during midday trading on Friday, reaching $2.80. The company’s stock had a trading volume of 7,860,448 shares, compared to its average volume of 8,970,288. The stock’s 50-day moving average is $2.44 and its 200-day moving average is $2.34. The firm has a market capitalization of $873.32 million, a price-to-earnings ratio of 4.38, a PEG ratio of 1.55 and a beta of 3.04. AK Steel Holding Co. has a 1 year low of $1.66 and a 1 year high of $3.84. The company has a current ratio of 2.06, a quick ratio of 0.70 and a debt-to-equity ratio of 4.77.
AK Steel (NYSE:AKS) last issued its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.03). The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.64 billion. AK Steel had a net margin of 1.50% and a return on equity of 42.48%. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter last year, the company earned $0.21 EPS. As a group, equities research analysts forecast that AK Steel Holding Co. will post 0.36 earnings per share for the current fiscal year.
Several research analysts have commented on AKS shares. ValuEngine raised shares of AK Steel from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Citigroup set a $3.00 price objective on shares of AK Steel and gave the stock a “hold” rating in a report on Wednesday, July 31st. Cowen reaffirmed a “market perform” rating and set a $2.40 price objective (up from $1.90) on shares of AK Steel in a report on Wednesday, July 31st. JPMorgan Chase & Co. downgraded shares of AK Steel from an “overweight” rating to an “underweight” rating in a report on Monday, September 23rd. Finally, BMO Capital Markets set a $3.00 price target on shares of AK Steel and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. AK Steel presently has an average rating of “Hold” and a consensus price target of $2.52.
AK Steel Profile
AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, and stainless and electrical steel 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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