AK Steel Holding Co. (NYSE:AKS) shares hit a new 52-week low during trading on Thursday . The company traded as low as $2.90 and last traded at $2.99, with a volume of 534422 shares trading hands. The stock had previously closed at $3.09.
AKS has been the topic of a number of recent research reports. Morgan Stanley upgraded AK Steel from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $6.00 to $5.50 in a research note on Monday, August 27th. Clarkson Capital upgraded AK Steel from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 11th. Bank of America upgraded AK Steel from an “underperform” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Friday, September 7th. ValuEngine downgraded AK Steel from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. Finally, Seaport Global Securities initiated coverage on AK Steel in a research note on Thursday, October 11th. They set a “neutral” rating and a $5.00 price target for the company. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. AK Steel currently has an average rating of “Hold” and a consensus target price of $5.24.
The company has a market capitalization of $930.85 million, a PE ratio of 9.16, a PEG ratio of 0.98 and a beta of 2.71. The company has a quick ratio of 0.77, a current ratio of 2.03 and a debt-to-equity ratio of 4.65.
In other AK Steel news, CEO Roger K. Newport bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The stock was purchased at an average price of $3.03 per share, for a total transaction of $30,300.00. Following the purchase, the chief executive officer now directly owns 461,297 shares in the company, valued at $1,397,729.91. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.13% of the company’s stock.
A number of large investors have recently made changes to their positions in AKS. Tower Research Capital LLC TRC boosted its stake in AK Steel by 1,136.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 22,956 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 21,100 shares during the period. Centaurus Financial Inc. bought a new stake in AK Steel during the 2nd quarter valued at approximately $117,000. MML Investors Services LLC boosted its stake in AK Steel by 105.9% during the 3rd quarter. MML Investors Services LLC now owns 25,343 shares of the basic materials company’s stock valued at $124,000 after purchasing an additional 13,037 shares during the period. Truepoint Inc. boosted its stake in 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 during the period. Finally, Laurion Capital Management LP bought a new stake in AK Steel during the 2nd quarter valued at approximately $140,000. Hedge funds and other institutional investors own 65.95% of the company’s stock.
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About AK Steel (NYSE:AKS)
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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