AK Steel Holding Co. (AKS) Short Interest Update

AK Steel Holding Co. (NYSE:AKS) was the target of a significant decrease in short interest in the month of March. As of March 29th, there was short interest totalling 50,572,134 shares, a decrease of 8.3% from the March 15th total of 55,171,275 shares. Approximately 16.4% of the company’s shares are short sold. Based on an average daily trading volume, of 6,671,812 shares, the short-interest ratio is currently 7.6 days.

A number of research firms have recently weighed in on AKS. Longbow Research lowered shares of AK Steel from a “buy” rating to a “neutral” rating and set a $2.77 target price for the company. in a report on Wednesday, January 30th. Zacks Investment Research lowered shares of AK Steel from a “buy” rating to a “hold” rating in a report on Thursday, February 14th. Macquarie lowered shares of AK Steel from an “outperform” rating to a “neutral” rating and set a $3.00 target price for the company. in a report on Tuesday, January 29th. Morgan Stanley lowered shares of AK Steel from an “overweight” rating to an “equal weight” rating and set a $2.80 target price for the company. in a report on Monday, January 28th. Finally, TheStreet upgraded shares of AK Steel from a “d+” rating to a “c-” rating in a report on Thursday, February 21st. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. AK Steel currently has an average rating of “Hold” and an average price target of $3.55.

A number of hedge funds have recently added to or reduced their stakes in AKS. JPMorgan Chase & Co. raised its stake in AK Steel by 62.0% in the third quarter. JPMorgan Chase & Co. now owns 9,833,600 shares of the basic materials company’s stock worth $48,184,000 after buying an additional 3,763,963 shares in the last quarter. Teachers Advisors LLC raised its stake in AK Steel by 374.7% in the third quarter. Teachers Advisors LLC now owns 2,908,497 shares of the basic materials company’s stock worth $14,252,000 after buying an additional 2,295,750 shares in the last quarter. Norges Bank bought a new position in AK Steel in the fourth quarter worth about $2,751,000. FMR LLC bought a new position in AK Steel in the third quarter worth about $3,971,000. Finally, BlackRock Inc. raised its stake in AK Steel by 1.6% in the third quarter. BlackRock Inc. now owns 45,742,755 shares of the basic materials company’s stock worth $224,140,000 after buying an additional 717,919 shares in the last quarter. 62.67% of the stock is owned by institutional investors.

AK Steel stock opened at $2.45 on Tuesday. 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 $794.98 million, a PE ratio of 3.83, a PEG ratio of 1.13 and a beta of 2.83. AK Steel has a 1-year low of $2.05 and a 1-year high of $5.40.

AK Steel (NYSE:AKS) last posted its earnings results on Monday, January 28th. The basic materials company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05. AK Steel had a net margin of 2.73% and a return on equity of 54.01%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the business posted ($0.06) earnings per share. AK Steel’s revenue for the quarter was up 12.1% on a year-over-year basis. Sell-side analysts predict that AK Steel will post 0.45 earnings per share for the current year.

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AK Steel Company 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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