AK Steel (NYSE:AKS) Hits New 12-Month High at $3.31
AK Steel Holding Co. (NYSE:AKS)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $3.31 and last traded at $3.30, with a volume of 230346 shares traded. The stock had previously closed at $3.17.
AKS has been the subject of several research analyst reports. ValuEngine upgraded AK Steel from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. upgraded AK Steel from an “underweight” rating to a “neutral” rating in a report on Wednesday. UBS Group reiterated a “sell” rating and issued a $2.00 price objective (down previously from $2.25) on shares of AK Steel in a report on Thursday, November 14th. Finally, Exane BNP Paribas assumed coverage on AK Steel in a research note on Thursday, November 14th. They set an “underperform” rating and a $2.00 target price on the stock. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. AK Steel currently has an average rating of “Hold” and an average target price of $2.44.
The firm has a market capitalization of $996.72 million, a PE ratio of 5.11, a PEG ratio of 1.54 and a beta of 3.14. The company has a debt-to-equity ratio of 4.77, a quick ratio of 0.70 and a current ratio of 2.06. The company’s 50-day moving average price is $2.64 and its 200-day moving average price is $2.38.
Several large investors have recently added to or reduced their stakes in AKS. Financial Advocates Investment Management lifted its holdings in shares of AK Steel by 133.8% in the 2nd quarter. Financial Advocates Investment Management now owns 33,725 shares of the basic materials company’s stock valued at $80,000 after buying an additional 19,300 shares during the period. Pinebridge Investments L.P. raised its stake in shares of AK Steel by 248.9% during the 2nd quarter. Pinebridge Investments L.P. now owns 366,240 shares of the basic materials company’s stock worth $868,000 after buying an additional 261,282 shares during the last quarter. State of Tennessee Treasury Department raised its stake in shares of AK Steel by 94.3% during the 3rd quarter. State of Tennessee Treasury Department now owns 248,609 shares of the basic materials company’s stock worth $564,000 after buying an additional 120,670 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of AK Steel by 9.6% in the 3rd quarter. SG Americas Securities LLC now owns 338,163 shares of the basic materials company’s stock worth $768,000 after buying an additional 29,588 shares in the last quarter. Finally, Advisor Group Inc. boosted its position in shares of AK Steel by 12.4% in the 2nd quarter. Advisor Group Inc. now owns 59,232 shares of the basic materials company’s stock worth $138,000 after buying an additional 6,521 shares in the last quarter. 59.33% of the stock is currently owned by institutional investors and hedge funds.
About AK Steel (NYSE:AKS)
AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, and stainless and electrical steel 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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