AK Steel (AKS) Hits New 52-Week Low at $2.90

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.

AK Steel (NYSE:AKS) last released its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.82 billion. AK Steel had a return on equity of 45.52% and a net margin of 0.67%. On average, equities analysts expect that AK Steel Holding Co. will post 0.6 earnings per share for the current year.

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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