Crow Point Partners LLC Invests $110,000 in AK Steel Holding Co. (AKS) Stock

Crow Point Partners LLC purchased a new position in AK Steel Holding Co. (NYSE:AKS) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 19,125 shares of the basic materials company’s stock, valued at approximately $110,000.

A number of other institutional investors and hedge funds also recently modified their holdings of AKS. Schwab Charles Investment Management Inc. increased its stake in AK Steel by 14.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,733,785 shares of the basic materials company’s stock worth $11,391,000 after purchasing an additional 223,432 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in AK Steel during the 2nd quarter valued at about $357,000. State Board of Administration of Florida Retirement System grew its stake in AK Steel by 36.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 156,436 shares of the basic materials company’s stock valued at $1,028,000 after acquiring an additional 41,484 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in AK Steel during the 2nd quarter valued at about $402,000. Finally, Swiss National Bank grew its stake in AK Steel by 2.7% during the 2nd quarter. Swiss National Bank now owns 530,000 shares of the basic materials company’s stock valued at $3,482,000 after acquiring an additional 14,100 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AK Steel Holding Co. (NYSE:AKS) opened at $6.44 on Thursday. AK Steel Holding Co. has a 1-year low of $4.00 and a 1-year high of $11.28. The company has a quick ratio of 0.75, a current ratio of 1.92 and a debt-to-equity ratio of 11.89. The firm has a market capitalization of $2,030.00, a P/E ratio of 42.93, a P/E/G ratio of 2.08 and a beta of 2.90.

AKS has been the topic of several research analyst reports. Jefferies Group reaffirmed a “buy” rating on shares of AK Steel in a research note on Monday, September 18th. KeyCorp reaffirmed a “hold” rating on shares of AK Steel in a research note on Tuesday, September 19th. Longbow Research reaffirmed a “neutral” rating on shares of AK Steel in a research note on Tuesday, October 3rd. BMO Capital Markets reaffirmed a “hold” rating and set a $7.00 target price on shares of AK Steel in a research note on Thursday, October 5th. Finally, Cowen reaffirmed a “hold” rating and set a $6.00 target price on shares of AK Steel in a research note on Tuesday, October 24th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $7.54.

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About AK Steel

AK Steel Holding Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company also operates blast furnaces and electric arc furnaces. As of December 31, 2016, its operations included eight steelmaking and finishing plants, two coke plants and two tube manufacturing plants across states, including Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia, and a tube manufacturing plant in Mexico.

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

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