An issue of AK Steel Holding Co. (NYSE:AKS) debt fell 0.8% as a percentage of its face value during trading on Thursday. The high-yield debt issue has a 7% coupon and will mature on March 15, 2027. The debt is now trading at $95.00 and was trading at $94.75 one week ago. Price changes in a company’s debt in credit markets often predict parallel changes in its share price.

Several equities analysts have recently weighed in on AKS shares. Zacks Investment Research upgraded shares of AK Steel from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research note on Tuesday, July 17th. Credit Suisse Group reiterated an “outperform” rating and issued a $6.00 price objective (down previously from $6.50) on shares of AK Steel in a research note on Tuesday, May 1st. ValuEngine cut shares of AK Steel from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 24th. Bank of America lowered their price objective on shares of AK Steel from $5.50 to $5.00 and set a “sell” rating on the stock in a research note on Tuesday, May 1st. Finally, Goldman Sachs Group cut shares of AK Steel from a “neutral” rating to a “sell” rating and set a $4.00 price objective on the stock. in a research note on Tuesday, May 29th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $5.47.

AK Steel stock opened at $4.29 on Friday. The company has a market capitalization of $1.41 billion, a P/E ratio of 16.56, a PEG ratio of 1.24 and a beta of 2.84. AK Steel Holding Co. has a 12-month low of $4.00 and a 12-month 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 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 analysts’ expectations of $1.75 billion. AK Steel had a positive return on equity of 33.56% and a negative net margin of 0.44%. The company’s revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 earnings per share. analysts forecast that AK Steel Holding Co. will post 0.72 EPS for the current year.

In related news, Director William K. Gerber sold 12,000 shares of the stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $4.65, for a total value of $55,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Roger K. Newport bought 10,000 shares of AK Steel stock in a transaction that occurred on Wednesday, August 15th. The stock was purchased at an average cost of $4.03 per share, with a total value of $40,300.00. Following the completion of the acquisition, the chief executive officer now directly owns 451,297 shares in the company, valued at approximately $1,818,726.91. The disclosure for this purchase can be found here. Corporate insiders own 1.13% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in AKS. PNC Financial Services Group Inc. grew its holdings in AK Steel by 106.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 22,076 shares of the basic materials company’s stock valued at $100,000 after buying an additional 11,370 shares in the last quarter. BB&T Securities LLC purchased a new stake in AK Steel during the 1st quarter valued at approximately $104,000. Centaurus Financial Inc. purchased a new stake in AK Steel during the 2nd quarter valued at approximately $117,000. Truepoint Inc. grew its holdings in AK Steel by 21,958.8% during the 2nd quarter. Truepoint Inc. now owns 30,000 shares of the basic materials company’s stock valued at $130,000 after buying an additional 29,864 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in AK Steel by 136.6% during the 1st quarter. SG Americas Securities LLC now owns 30,130 shares of the basic materials company’s stock valued at $136,000 after buying an additional 17,396 shares in the last quarter. 62.40% of the stock is owned by institutional investors and hedge funds.

AK Steel Company Profile (NYSE:AKS)

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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