AK Steel Holding Co. (NYSE:AKS) reached a new 52-week low during trading on Thursday . The company traded as low as $2.90 and last traded at $2.99, with a volume of 534422 shares. The stock had previously closed at $3.09.

A number of research firms recently commented on AKS. Morgan Stanley raised AK Steel from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $6.00 to $5.50 in a report on Monday, August 27th. Seaport Global Securities began coverage on AK Steel in a report on Thursday, October 11th. They set a “neutral” rating and a $5.00 target price for the company. Clarkson Capital raised AK Steel from a “neutral” rating to a “buy” rating in a report on Tuesday, September 11th. ValuEngine downgraded AK Steel from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research raised AK Steel from a “sell” rating to a “hold” rating in a report on Monday, November 12th. Three analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $5.36.

The firm has a market cap of $975.03 million, a PE ratio of 9.52, a P/E/G ratio of 1.03 and a beta of 2.71. The company has a debt-to-equity ratio of 4.65, a current ratio of 2.03 and a quick ratio of 0.77.

AK Steel (NYSE:AKS) last announced its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.02). The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.82 billion. AK Steel had a net margin of 0.67% and a return on equity of 45.52%. On average, research analysts anticipate that AK Steel Holding Co. will post 0.6 EPS for the current fiscal year.

In other AK Steel news, CEO Roger K. Newport acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, November 27th. The stock was acquired at an average cost of $3.03 per share, for a total transaction of $30,300.00. Following the completion of the transaction, the chief executive officer now directly owns 461,297 shares of the company’s stock, valued at $1,397,729.91. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.13% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of AK Steel by 1.6% in the third quarter. BlackRock Inc. now owns 45,742,755 shares of the basic materials company’s stock valued at $224,140,000 after buying an additional 717,919 shares in the last quarter. Vanguard Group Inc. increased its position in shares of AK Steel by 1.7% in the third quarter. Vanguard Group Inc. now owns 32,062,343 shares of the basic materials company’s stock valued at $157,105,000 after buying an additional 531,265 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of AK Steel by 62.0% in the third quarter. JPMorgan Chase & Co. now owns 9,833,600 shares of the basic materials company’s stock valued at $48,184,000 after buying an additional 3,763,963 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of AK Steel by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 7,357,323 shares of the basic materials company’s stock valued at $31,931,000 after buying an additional 460,313 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of AK Steel by 0.4% in the second quarter. Northern Trust Corp now owns 3,854,893 shares of the basic materials company’s stock valued at $16,730,000 after buying an additional 16,163 shares in the last quarter. Institutional investors and hedge funds own 65.95% of the company’s stock.

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About AK Steel (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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