AKS has been the subject of several other research reports. Deutsche Bank lowered their target price on shares of AK Steel to $2.50 and set a hold rating for the company in a research note on Tuesday, February 5th. Bank of America lowered shares of AK Steel from a buy rating to an underperform rating and lowered their target price for the stock from $5.00 to $2.50 in a research note on Wednesday, January 30th. Zacks Investment Research raised shares of AK Steel from a hold rating to a buy rating and set a $3.25 target price for the company in a research note on Tuesday, February 12th. Cowen began coverage on shares of AK Steel in a research note on Tuesday, January 8th. They set a market perform rating and a $2.50 target price for the company. Finally, Clarkson Capital lowered shares of AK Steel from a buy rating to a neutral rating in a research note on Wednesday, January 16th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $3.76.
Shares of AKS stock opened at $3.16 on Thursday. The company has a quick ratio of 0.69, a current ratio of 1.95 and a debt-to-equity ratio of 4.64. The stock has a market cap of $999.54 million, a price-to-earnings ratio of 4.94, a P/E/G ratio of 1.15 and a beta of 2.73. AK Steel has a 1-year low of $2.05 and a 1-year high of $5.87.
In other AK Steel news, CEO Roger K. Newport purchased 10,000 shares of AK Steel stock in a transaction dated Tuesday, November 27th. The shares were acquired at an average price of $3.03 per share, with a total value of $30,300.00. Following the completion of the transaction, the chief executive officer now owns 461,297 shares of the company’s stock, valued at $1,397,729.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.13% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of AKS. JPMorgan Chase & Co. lifted its position in shares of AK Steel by 62.0% during the third quarter. JPMorgan Chase & Co. now owns 9,833,600 shares of the basic materials company’s stock worth $48,184,000 after purchasing an additional 3,763,963 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of AK Steel by 374.7% during the third quarter. Teachers Advisors LLC now owns 2,908,497 shares of the basic materials company’s stock worth $14,252,000 after purchasing an additional 2,295,750 shares in the last quarter. BlueMountain Capital Management LLC lifted its position in shares of AK Steel by 212.9% during the third quarter. BlueMountain Capital Management LLC now owns 1,521,721 shares of the basic materials company’s stock worth $7,456,000 after purchasing an additional 1,035,371 shares in the last quarter. Ashler Capital LLC acquired a new stake in shares of AK Steel during the third quarter worth about $4,772,000. Finally, Congress Asset Management Co. MA acquired a new stake in shares of AK Steel during the third quarter worth about $4,319,000. 63.05% of the stock is currently owned by institutional investors and hedge funds.
AK Steel Company 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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