26,964 Shares in AK Steel Holding Co. (AKS) Acquired by Centaurus Financial Inc.
Centaurus Financial Inc. purchased a new position in shares of AK Steel Holding Co. (NYSE:AKS) during the 2nd quarter, Holdings Channel reports. The fund purchased 26,964 shares of the basic materials company’s stock, valued at approximately $117,000.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of AK Steel by 5.8% during the 2nd quarter. BlackRock Inc. now owns 45,024,836 shares of the basic materials company’s stock worth $195,407,000 after acquiring an additional 2,453,702 shares during the period. Polar Asset Management Partners Inc. bought a new position in shares of AK Steel during the 1st quarter worth approximately $6,771,000. KBC Group NV bought a new position in shares of AK Steel during the 1st quarter worth approximately $3,536,000. JPMorgan Chase & Co. boosted its stake in shares of AK Steel by 16.9% during the 1st quarter. JPMorgan Chase & Co. now owns 4,789,705 shares of the basic materials company’s stock worth $21,698,000 after acquiring an additional 691,938 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of AK Steel by 11.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,897,010 shares of the basic materials company’s stock worth $31,243,000 after acquiring an additional 680,933 shares during the period. 64.97% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently commented on the company. ValuEngine downgraded AK Steel from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Zacks Investment Research upgraded AK Steel from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Tuesday, July 17th. Deutsche Bank downgraded AK Steel from a “buy” rating to a “hold” rating and reduced their target price for the stock from $6.00 to $5.00 in a research note on Monday, July 9th. Clarkson Capital upgraded AK Steel from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 11th. Finally, Bank of America upgraded AK Steel from an “underperform” rating to a “buy” rating and set a $6.00 target price for the company in a research note on Friday, September 7th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $5.40.
AKS opened at $4.65 on Tuesday. The firm has a market capitalization of $1.50 billion, a P/E ratio of 15.00, a PEG ratio of 1.30 and a beta of 2.86. AK Steel Holding Co. has a 1 year low of $4.00 and a 1 year high of $6.80. The company has a quick ratio of 0.76, a current ratio of 2.01 and a debt-to-equity ratio of 5.49.
AK Steel (NYSE:AKS) last released its quarterly earnings results on Monday, July 30th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. AK Steel had a negative net margin of 0.44% and a positive return on equity of 33.56%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 earnings per share. research analysts expect that AK Steel Holding Co. will post 0.73 EPS for the current fiscal year.
About AK Steel
AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, stainless, and electrical steels, and tubular 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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