AK Steel Holding Co. (AKS) CEO Acquires $40,300.00 in Stock
AK Steel Holding Co. (NYSE:AKS) CEO Roger K. Newport bought 10,000 shares of AK Steel stock in a transaction dated 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
AKS stock traded up $0.13 during trading on Friday, hitting $4.37. The company had a trading volume of 10,786,553 shares, compared to its average volume of 16,509,125. The stock has a market capitalization of $1.36 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.19 and a beta of 2.84. 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 issued 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 company had revenue of $1.75 billion during the quarter, compared to analyst estimates 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 was up 12.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 EPS. analysts expect that AK Steel Holding Co. will post 0.72 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in AK Steel by 5.8% in the 2nd quarter. BlackRock Inc. now owns 45,024,836 shares of the basic materials company’s stock valued at $195,407,000 after acquiring an additional 2,453,702 shares during the period. Dimensional Fund Advisors LP increased its position in AK Steel by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,357,323 shares of the basic materials company’s stock valued at $31,931,000 after acquiring an additional 460,313 shares during the period. JPMorgan Chase & Co. increased its position in AK Steel by 16.9% in the 1st quarter. JPMorgan Chase & Co. now owns 4,789,705 shares of the basic materials company’s stock valued at $21,698,000 after acquiring an additional 691,938 shares during the period. Northern Trust Corp increased its position in AK Steel by 1.3% in the 1st quarter. Northern Trust Corp now owns 3,838,730 shares of the basic materials company’s stock valued at $17,390,000 after acquiring an additional 50,343 shares during the period. Finally, Merriman Wealth Management LLC increased its position in AK Steel by 3.7% in the 2nd quarter. Merriman Wealth Management LLC now owns 3,536,800 shares of the basic materials company’s stock valued at $15,350,000 after acquiring an additional 126,000 shares during the period. Hedge funds and other institutional investors own 61.93% of the company’s stock.
AK Steel Company Profile
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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