Schwab Charles Investment Management Inc. Has $10.27 Million Holdings in AK Steel Holding Co. (NYSE:AKS)

Schwab Charles Investment Management Inc. boosted its stake in AK Steel Holding Co. (NYSE:AKS) by 6.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,837,305 shares of the basic materials company’s stock after purchasing an additional 103,520 shares during the period. Schwab Charles Investment Management Inc. owned about 0.58% of AK Steel worth $10,271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D bought a new position in shares of AK Steel during the 3rd quarter worth about $81,614,000. Dimensional Fund Advisors LP boosted its position in shares of AK Steel by 14.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,162,355 shares of the basic materials company’s stock worth $40,489,000 after purchasing an additional 772,725 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of AK Steel by 3.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,458,105 shares of the basic materials company’s stock worth $29,290,000 after purchasing an additional 166,605 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of AK Steel by 10.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,165,221 shares of the basic materials company’s stock worth $23,284,000 after purchasing an additional 404,540 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of AK Steel by 3.6% during the 2nd quarter. Northern Trust Corp now owns 3,829,715 shares of the basic materials company’s stock worth $25,160,000 after purchasing an additional 132,062 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Several brokerages recently weighed in on AKS. Cowen reaffirmed a “hold” rating and issued a $7.00 price target on shares of AK Steel in a research report on Thursday, January 4th. BMO Capital Markets dropped their price target on shares of AK Steel from $7.00 to $5.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 1st. Clarkson Capital cut shares of AK Steel from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 1st. KeyCorp reaffirmed a “hold” rating on shares of AK Steel in a research report on Tuesday, September 19th. Finally, Jefferies Group lowered shares of AK Steel from a “buy” rating to a “hold” rating and decreased their price objective for the company from $6.64 to $6.50 in a research note on Tuesday, January 9th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. AK Steel currently has an average rating of “Buy” and an average target price of $7.54.

Shares of AK Steel Holding Co. (AKS) opened at $6.19 on Friday. The company has a debt-to-equity ratio of 11.89, a quick ratio of 0.75 and a current ratio of 1.92. AK Steel Holding Co. has a one year low of $4.00 and a one year high of $10.78. The stock has a market cap of $1,950.00, a P/E ratio of 41.27, a PEG ratio of 1.60 and a beta of 2.90.

ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by The Lincolnian Online and is owned by of The Lincolnian Online. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of United States & international trademark & copyright law. The legal version of this piece of content can be accessed at https://www.thelincolnianonline.com/2018/01/14/schwab-charles-investment-management-inc-acquires-103520-shares-of-ak-steel-holding-co-aks-updated-updated.html.

AK Steel Company Profile

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.

Institutional Ownership by Quarter for AK Steel (NYSE:AKS)

Receive News & Ratings for AK Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AK Steel and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply