AK Steel (AKS) Shares Down 0%
AK Steel Holding Co. (NYSE:AKS) shares dropped 0% during trading on Tuesday . The stock traded as low as $6.02 and last traded at $6.09. Approximately 36,512,562 shares traded hands during trading, an increase of 59% from the average daily volume of 23,025,600 shares. The stock had previously closed at $6.09.
AKS has been the subject of several research analyst reports. JPMorgan Chase & Co. raised AK Steel from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $6.00 to $7.00 in a research note on Thursday, December 7th. Jefferies Group reissued a “buy” rating on shares of AK Steel in a research note on Friday, November 10th. Longbow Research raised AK Steel from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $5.53 to $7.00 in a research note on Wednesday, December 20th. Credit Suisse Group raised AK Steel from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $6.00 to $7.00 in a research note on Tuesday, November 21st. Finally, TheStreet downgraded AK Steel from a “c” rating to a “d+” rating in a research note on Tuesday, October 31st. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. AK Steel has a consensus rating of “Buy” and a consensus price target of $7.54.
The stock has a market cap of $1,920.00, a price-to-earnings ratio of 40.60, a price-to-earnings-growth ratio of 2.08 and a beta of 2.90. The company has a debt-to-equity ratio of 11.89, a current ratio of 1.92 and a quick ratio of 0.75.
Several large investors have recently added to or reduced their stakes in AKS. Schwab Charles Investment Management Inc. grew its holdings in shares of AK Steel by 14.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,733,785 shares of the basic materials company’s stock worth $11,391,000 after purchasing an additional 223,432 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in AK Steel in the second quarter valued at approximately $357,000. State Board of Administration of Florida Retirement System boosted its holdings in AK Steel by 36.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 156,436 shares of the basic materials company’s stock valued at $1,028,000 after acquiring an additional 41,484 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in AK Steel in the second quarter valued at approximately $402,000. Finally, Swiss National Bank boosted its holdings in AK Steel by 2.7% in the second quarter. Swiss National Bank now owns 530,000 shares of the basic materials company’s stock valued at $3,482,000 after acquiring an additional 14,100 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.
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About AK Steel
AK Steel Holding Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company also operates blast furnaces and electric arc furnaces. As of December 31, 2016, its operations included eight steelmaking and finishing plants, two coke plants and two tube manufacturing plants across states, including Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia, and a tube manufacturing plant in Mexico.
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