Sippican Capital Advisors Trims Position in AK Steel Holding Co. (AKS)

Sippican Capital Advisors lessened its stake in AK Steel Holding Co. (NYSE:AKS) by 40.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,000 shares of the basic materials company’s stock after selling 10,232 shares during the period. Sippican Capital Advisors’ holdings in AK Steel were worth $41,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in AK Steel by 62.0% during the third quarter. JPMorgan Chase & Co. now owns 9,833,600 shares of the basic materials company’s stock worth $48,184,000 after purchasing an additional 3,763,963 shares during the period. Teachers Advisors LLC lifted its position in AK Steel by 374.7% in the 3rd quarter. Teachers Advisors LLC now owns 2,908,497 shares of the basic materials company’s stock valued at $14,252,000 after acquiring an additional 2,295,750 shares in the last quarter. Norges Bank bought a new stake in AK Steel in the 4th quarter valued at $2,751,000. FMR LLC bought a new stake in AK Steel in the 3rd quarter valued at $3,971,000. Finally, BlackRock Inc. lifted its position in AK Steel by 1.6% in the 3rd quarter. BlackRock Inc. now owns 45,742,755 shares of the basic materials company’s stock valued at $224,140,000 after acquiring an additional 717,919 shares in the last quarter. Institutional investors and hedge funds own 62.61% of the company’s stock.

Shares of NYSE:AKS traded up $0.07 on Wednesday, reaching $2.58. 2,374,228 shares of the company’s stock were exchanged, compared to its average volume of 6,889,748. AK Steel Holding Co. has a twelve month low of $2.05 and a twelve month high of $5.40. The firm has a market cap of $809.28 million, a PE ratio of 4.02, a PEG ratio of 1.09 and a beta of 2.83. The company has a quick ratio of 0.69, a current ratio of 1.95 and a debt-to-equity ratio of 4.64.

AK Steel (NYSE:AKS) last announced its earnings results on Monday, January 28th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05. AK Steel had a net margin of 2.73% and a return on equity of 54.01%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the business posted ($0.06) EPS. The business’s revenue was up 12.1% compared to the same quarter last year. On average, research analysts expect that AK Steel Holding Co. will post 0.45 EPS for the current year.

Several brokerages have commented on AKS. Zacks Investment Research cut shares of AK Steel from a “buy” rating to a “hold” rating in a research report on Thursday, February 14th. Longbow Research cut shares of AK Steel from a “buy” rating to a “neutral” rating and set a $2.77 price target on the stock. in a research report on Wednesday, January 30th. Cowen began coverage on shares of AK Steel in a research report on Tuesday, January 8th. They set a “market perform” rating and a $2.50 price target on the stock. Clarkson Capital cut shares of AK Steel from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 16th. Finally, TheStreet raised shares of AK Steel from a “d+” rating to a “c-” rating in a research report on Thursday, February 21st. Four analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. AK Steel presently has an average rating of “Hold” and an average target price of $3.55.

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AK Steel Profile

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

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