AK Steel Holding Co. (NYSE:AKS) Shares Sold by Wedbush Securities Inc.

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Wedbush Securities Inc. cut its stake in shares of AK Steel Holding Co. (NYSE:AKS) by 7.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 133,379 shares of the basic materials company’s stock after selling 11,031 shares during the period. Wedbush Securities Inc.’s holdings in AK Steel were worth $316,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in AKS. Norges Bank acquired a new position in AK Steel during the 4th quarter worth approximately $2,751,000. Systematic Financial Management LP acquired a new position in AK Steel during the 1st quarter worth approximately $1,154,000. Dimensional Fund Advisors LP lifted its position in AK Steel by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,423,378 shares of the basic materials company’s stock worth $16,703,000 after acquiring an additional 368,190 shares in the last quarter. SG Americas Securities LLC acquired a new position in AK Steel during the 1st quarter worth approximately $915,000. Finally, Merriman Wealth Management LLC lifted its position in AK Steel by 5.0% during the 2nd quarter. Merriman Wealth Management LLC now owns 4,208,800 shares of the basic materials company’s stock worth $9,975,000 after acquiring an additional 200,000 shares in the last quarter. 60.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AKS traded up $0.05 during trading on Friday, reaching $2.29. The company’s stock had a trading volume of 8,053,100 shares, compared to its average volume of 11,031,202. The company has a fifty day moving average of $2.40 and a two-hundred day moving average of $2.52. AK Steel Holding Co. has a twelve month low of $1.66 and a twelve month high of $5.11. The company has a market cap of $708.70 million, a price-to-earnings ratio of 2.77, a P/E/G ratio of 1.06 and a beta of 3.07. The company has a quick ratio of 0.76, a current ratio of 2.02 and a debt-to-equity ratio of 4.54.

AK Steel (NYSE:AKS) last announced its earnings results on Monday, July 29th. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.15. AK Steel had a return on equity of 57.52% and a net margin of 2.40%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company posted $0.18 EPS. AK Steel’s quarterly revenue was down 3.8% on a year-over-year basis. As a group, equities analysts forecast that AK Steel Holding Co. will post 0.42 EPS for the current fiscal year.

Several equities analysts recently commented on the company. Bank of America reissued an “underperform” rating and set a $2.00 price target on shares of AK Steel in a research report on Friday, May 31st. Citigroup set a $3.00 price target on AK Steel and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Credit Suisse Group lowered AK Steel from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $3.50 to $2.05 in a research report on Thursday, May 23rd. Goldman Sachs Group cut their target price on AK Steel from $2.25 to $1.50 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Finally, BMO Capital Markets set a $3.00 target price on AK Steel and gave the company a “hold” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $2.73.

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

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