Creative Planning cut its holdings in AK Steel Holding Co. (NYSE:AKS) by 14.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 62,344 shares of the basic materials company’s stock after selling 10,200 shares during the quarter. Creative Planning’s holdings in AK Steel were worth $205,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. First Trust Advisors LP bought a new stake in shares of AK Steel during the 1st quarter valued at about $516,000. Morgan Stanley grew its stake in shares of AK Steel by 125.4% during the 2nd quarter. Morgan Stanley now owns 2,431,379 shares of the basic materials company’s stock valued at $5,763,000 after purchasing an additional 1,352,519 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of AK Steel by 4.9% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 120,174 shares of the basic materials company’s stock valued at $285,000 after purchasing an additional 5,640 shares during the period. State of Alaska Department of Revenue grew its stake in shares of AK Steel by 125.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 243,046 shares of the basic materials company’s stock valued at $551,000 after purchasing an additional 135,403 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of AK Steel during the 3rd quarter valued at about $61,000. Institutional investors own 59.30% of the company’s stock.
AKS stock opened at $2.94 on Friday. AK Steel Holding Co. has a twelve month low of $1.66 and a twelve month high of $3.59. The company has a quick ratio of 0.70, a current ratio of 2.06 and a debt-to-equity ratio of 4.77. The stock has a market cap of $963.40 million, a P/E ratio of 4.98 and a beta of 3.06. The business’s 50-day moving average price is $3.03 and its 200-day moving average price is $2.71.
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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