New York State Teachers Retirement System boosted its stake in AK Steel Holding Corp. (NYSE:AKS) by 5.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 351,623 shares of the company’s stock after buying an additional 18,689 shares during the period. New York State Teachers Retirement System’s holdings in AK Steel Holding Corp. were worth $1,639,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of AKS. Old Mutual Global Investors UK Ltd. purchased a new stake in AK Steel Holding Corp. during the second quarter valued at $14,342,000. Teachers Advisors Inc. boosted its stake in AK Steel Holding Corp. by 793.3% in the first quarter. Teachers Advisors Inc. now owns 2,405,707 shares of the company’s stock valued at $9,936,000 after buying an additional 2,136,400 shares during the period. Canada Pension Plan Investment Board purchased a new stake in AK Steel Holding Corp. during the first quarter valued at $2,152,000. Jacobs Levy Equity Management Inc. purchased a new stake in AK Steel Holding Corp. during the first quarter valued at $2,042,000. Finally, A.R.T. Advisors LLC boosted its stake in AK Steel Holding Corp. by 253.3% in the first quarter. A.R.T. Advisors LLC now owns 525,817 shares of the company’s stock valued at $2,171,000 after buying an additional 377,000 shares during the period. Institutional investors own 68.75% of the company’s stock.
Shares of AK Steel Holding Corp. (NYSE:AKS) traded up 2.88% during mid-day trading on Monday, reaching $4.64. 5,964,671 shares of the company’s stock traded hands. The stock’s market cap is $1.11 billion. AK Steel Holding Corp. has a 12-month low of $1.64 and a 12-month high of $7.09. The firm’s 50 day moving average price is $4.57 and its 200-day moving average price is $4.73.
AK Steel Holding Corp. (NYSE:AKS) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. AK Steel Holding Corp. had a negative net margin of 2.18% and a negative return on equity of 12.89%. The business earned $1.49 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the business earned ($0.36) EPS. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. Equities research analysts forecast that AK Steel Holding Corp. will post $0.32 earnings per share for the current year.
AKS has been the subject of several recent analyst reports. KeyCorp cut shares of AK Steel Holding Corp. from a “sector weight” rating to an “underweight” rating and decreased their price objective for the stock from $5.15 to $4.00 in a research report on Friday, August 19th. Vetr upgraded shares of AK Steel Holding Corp. from a “hold” rating to a “strong-buy” rating and set a $5.78 price target for the company in a report on Wednesday, August 24th. Deutsche Bank AG upgraded shares of AK Steel Holding Corp. from a “sell” rating to a “hold” rating and raised their price target for the stock from $1.64 to $4.83 in a report on Monday, October 3rd. Zacks Investment Research cut shares of AK Steel Holding Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 16th. Finally, TheStreet cut shares of AK Steel Holding Corp. from a “hold” rating to a “sell” rating in a report on Monday, August 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. AK Steel Holding Corp. currently has an average rating of “Hold” and an average target price of $5.30.
In other news, Director Vicente Wright sold 27,000 shares of the company’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $6.70, for a total value of $180,900.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by insiders.
About AK Steel Holding Corp.
AK Steel Holding Corporation is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company operates approximately eight steelmaking and finishing plants, over two coke plants and approximately two tube manufacturing plants across states, which include Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.