AK Steel (AKS) Trading Down 7%

AK Steel Holding Co. (NYSE:AKS) fell 7% during mid-day trading on Monday . The company traded as low as $2.19 and last traded at $2.27. 9,453,384 shares were traded during trading, an increase of 1% from the average session volume of 9,340,089 shares. The stock had previously closed at $2.44.

A number of brokerages have recently issued reports on AKS. TheStreet upgraded AK Steel from a “d+” rating to a “c-” rating in a research note on Thursday, February 21st. Zacks Investment Research cut AK Steel from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Deutsche Bank dropped their price target on AK Steel to $2.50 and set a “hold” rating on the stock in a research note on Tuesday, February 5th. Bank of America cut AK Steel from a “buy” rating to an “underperform” rating and dropped their price target for the company from $5.00 to $2.50 in a research note on Wednesday, January 30th. Finally, Longbow Research cut AK Steel from a “buy” rating to a “neutral” rating and set a $2.77 price target on the stock. in a research note on Wednesday, January 30th. Three research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $3.15.

The company has a quick ratio of 0.78, a current ratio of 2.05 and a debt-to-equity ratio of 4.74. The company has a market cap of $716.51 million, a price-to-earnings ratio of 3.63, a price-to-earnings-growth ratio of 0.97 and a beta of 2.73.

AK Steel (NYSE:AKS) last posted its quarterly earnings results on Monday, April 29th. The basic materials company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.10. AK Steel had a return on equity of 61.44% and a net margin of 2.23%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the business earned $0.09 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts forecast that AK Steel Holding Co. will post 0.47 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. MetLife Investment Advisors LLC increased its position in AK Steel by 32.2% during the 1st quarter. MetLife Investment Advisors LLC now owns 140,543 shares of the basic materials company’s stock worth $386,000 after buying an additional 34,211 shares during the period. SEI Investments Co increased its position in AK Steel by 160.5% during the 1st quarter. SEI Investments Co now owns 27,130 shares of the basic materials company’s stock worth $75,000 after buying an additional 16,717 shares during the period. Goldman Sachs Group Inc. increased its position in AK Steel by 50.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,906,920 shares of the basic materials company’s stock worth $10,744,000 after buying an additional 1,306,894 shares during the period. Geode Capital Management LLC increased its position in AK Steel by 8.3% during the 1st quarter. Geode Capital Management LLC now owns 3,519,261 shares of the basic materials company’s stock worth $9,677,000 after buying an additional 268,724 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in AK Steel by 17.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,089,605 shares of the basic materials company’s stock worth $8,497,000 after buying an additional 454,218 shares during the period. Institutional investors and hedge funds own 62.78% of the company’s stock.

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AK Steel Company Profile (NYSE:AKS)

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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