ClariVest Asset Management LLC purchased a new position in shares of AK Steel Holding Corp. (NYSE:AKS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 61,508 shares of the company’s stock, valued at approximately $287,000.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in AK Steel Holding Corp. by 61.5% in the first quarter. BlackRock Inc. now owns 24,495 shares of the company’s stock worth $101,000 after buying an additional 9,327 shares during the last quarter. Capstone Asset Management Co. raised its stake in AK Steel Holding Corp. by 32.7% in the second quarter. Capstone Asset Management Co. now owns 57,928 shares of the company’s stock worth $270,000 after buying an additional 14,270 shares during the last quarter. Lucus Advisors LLC purchased a new stake in AK Steel Holding Corp. during the second quarter worth $362,000. Louisiana State Employees Retirement System raised its stake in AK Steel Holding Corp. by 33.5% in the second quarter. Louisiana State Employees Retirement System now owns 105,500 shares of the company’s stock worth $492,000 after buying an additional 26,500 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in AK Steel Holding Corp. during the second quarter worth $552,000. 68.75% of the stock is owned by institutional investors and hedge funds.
Shares of AK Steel Holding Corp. (NYSE:AKS) traded down 0.22% during mid-day trading on Tuesday, reaching $4.63. 11,912,012 shares of the company traded hands. The stock’s market capitalization is $1.10 billion. AK Steel Holding Corp. has a 52-week low of $1.64 and a 52-week high of $7.09. The stock’s 50 day moving average is $4.57 and its 200 day moving average is $4.73.
AK Steel Holding Corp. (NYSE:AKS) last released its earnings results on Tuesday, July 26th. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. The firm earned $1.49 billion during the quarter, compared to analysts’ expectations of $1.53 billion. AK Steel Holding Corp. had a negative net margin of 2.18% and a negative return on equity of 12.89%. The business’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.36) EPS. On average, analysts anticipate that AK Steel Holding Corp. will post $0.32 earnings per share for the current year.
A number of research firms recently weighed in on AKS. Zacks Investment Research raised shares of AK Steel Holding Corp. from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a report on Tuesday, June 28th. KeyCorp lowered shares of AK Steel Holding Corp. from a “sector weight” rating to an “underweight” rating and lowered their price target for the company from $5.15 to $4.00 in a report on Friday, August 19th. Barclays PLC raised their price target on shares of AK Steel Holding Corp. from $4.00 to $5.00 and gave the company an “equal weight” rating in a report on Tuesday, July 12th. Rosenblatt Securities assumed coverage on shares of AK Steel Holding Corp. in a report on Monday, August 22nd. They set a “buy” rating and a $6.00 price target for the company. Finally, Credit Suisse Group AG reissued an “outperform” rating on shares of AK Steel Holding Corp. in a report on Wednesday, July 6th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $5.30.
In related news, Director Vicente Wright sold 27,000 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $6.70, for a total transaction of $180,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company’s stock.
About AK Steel Holding Corp.
AK Steel Holding Corporation is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company operates approximately eight steelmaking and finishing plants, over two coke plants and approximately two tube manufacturing plants across states, which include Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.
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