American Century Companies Inc. lifted its holdings in AK Steel Holding Co. (NYSE:AKS) by 24.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,246,664 shares of the basic materials company’s stock after purchasing an additional 243,529 shares during the period. American Century Companies Inc. owned about 0.40% of AK Steel worth $6,969,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. State of New Jersey Common Pension Fund D purchased a new position in shares of AK Steel in the third quarter worth approximately $81,614,000. Dimensional Fund Advisors LP increased its position in shares of AK Steel by 82.5% in the first quarter. Dimensional Fund Advisors LP now owns 5,389,630 shares of the basic materials company’s stock worth $38,751,000 after acquiring an additional 2,436,564 shares in the last quarter. BW Gestao de Investimentos Ltda. purchased a new position in shares of AK Steel in the second quarter worth approximately $9,855,000. Teacher Retirement System of Texas increased its position in shares of AK Steel by 138.7% in the second quarter. Teacher Retirement System of Texas now owns 1,881,542 shares of the basic materials company’s stock worth $12,362,000 after acquiring an additional 1,093,353 shares in the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new position in shares of AK Steel in the second quarter worth approximately $5,860,000. 65.14% of the stock is currently owned by institutional investors.
Several research analysts have recently weighed in on AKS shares. Longbow Research reissued a “neutral” rating on shares of AK Steel in a research report on Tuesday, October 3rd. Cowen restated a “hold” rating and set a $6.00 price target on shares of AK Steel in a report on Tuesday, October 24th. BMO Capital Markets restated a “hold” rating on shares of AK Steel in a report on Thursday, November 2nd. J P Morgan Chase & Co decreased their price target on shares of AK Steel from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, November 1st. Finally, Citigroup decreased their price target on shares of AK Steel from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $7.46.
Shares of AK Steel Holding Co. (NYSE:AKS) traded up $0.15 during mid-day trading on Thursday, reaching $5.18. 26,032,803 shares of the company were exchanged, compared to its average volume of 18,750,996. AK Steel Holding Co. has a fifty-two week low of $4.00 and a fifty-two week high of $11.39. The company has a market capitalization of $1,630.00, a price-to-earnings ratio of 7.42, a P/E/G ratio of 3.88 and a beta of 2.89. The company has a debt-to-equity ratio of 11.89, a current ratio of 1.92 and a quick ratio of 0.75.
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.
Receive News & Ratings for AK Steel Holding Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AK Steel Holding Co. and related companies with MarketBeat.com's FREE daily email newsletter.