AK Steel (AKS) Hits New 1-Year Low at $2.90

AK Steel Holding Co. (NYSE:AKS) hit a new 52-week low during trading on Thursday . The stock traded as low as $2.90 and last traded at $2.99, with a volume of 534422 shares trading hands. The stock had previously closed at $3.09.

Several brokerages recently commented on AKS. Morgan Stanley upgraded AK Steel from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $6.00 to $5.50 in a report on Monday, August 27th. Seaport Global Securities assumed coverage on AK Steel in a report on Thursday, October 11th. They set a “neutral” rating and a $5.00 price objective on the stock. Clarkson Capital upgraded AK Steel from a “neutral” rating to a “buy” rating in a report on Tuesday, September 11th. ValuEngine downgraded AK Steel from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research upgraded AK Steel from a “sell” rating to a “hold” rating in a report on Monday, November 12th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $5.24.

The company has a debt-to-equity ratio of 4.65, a current ratio of 2.03 and a quick ratio of 0.77. The firm has a market cap of $930.85 million, a price-to-earnings ratio of 9.16, a P/E/G ratio of 0.98 and a beta of 2.71.

AK Steel (NYSE:AKS) last issued its quarterly earnings results on Thursday, October 25th. The basic materials company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.02). AK Steel had a net margin of 0.67% and a return on equity of 45.52%. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.82 billion. Sell-side analysts expect that AK Steel Holding Co. will post 0.6 EPS for the current year.

In other news, CEO Roger K. Newport purchased 10,000 shares of the stock in a transaction dated Tuesday, November 27th. The stock was acquired at an average cost of $3.03 per share, for a total transaction of $30,300.00. Following the acquisition, the chief executive officer now owns 461,297 shares of the company’s stock, valued at $1,397,729.91. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.13% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its position in AK Steel by 1,136.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 22,956 shares of the basic materials company’s stock worth $113,000 after acquiring an additional 21,100 shares during the period. Centaurus Financial Inc. acquired a new stake in shares of AK Steel in the second quarter valued at $117,000. MML Investors Services LLC lifted its holdings in shares of AK Steel by 105.9% in the third quarter. MML Investors Services LLC now owns 25,343 shares of the basic materials company’s stock valued at $124,000 after buying an additional 13,037 shares during the period. Truepoint Inc. lifted its holdings in shares of AK Steel by 21,958.8% in the second quarter. Truepoint Inc. now owns 30,000 shares of the basic materials company’s stock valued at $130,000 after buying an additional 29,864 shares during the period. Finally, Laurion Capital Management LP acquired a new stake in shares of AK Steel in the second quarter valued at $140,000. Institutional investors own 65.95% of the company’s stock.

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About AK Steel (NYSE:AKS)

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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