Traders Buy AK Steel (AKS) on Weakness

Traders purchased shares of AK Steel Holding Co. (NYSE:AKS) on weakness during trading on Monday. $52.70 million flowed into the stock on the tick-up and $29.10 million flowed out of the stock on the tick-down, for a money net flow of $23.60 million into the stock. Of all stocks tracked, AK Steel had the 28th highest net in-flow for the day. AK Steel traded down ($0.22) for the day and closed at $6.22

Several equities analysts have commented on the company. Jefferies Group downgraded AK Steel from a “buy” rating to a “hold” rating and dropped their target price for the company from $6.64 to $6.50 in a research report on Tuesday, January 9th. Zacks Investment Research downgraded AK Steel from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Cowen reiterated a “hold” rating and issued a $7.00 target price on shares of AK Steel in a research report on Thursday, January 4th. BMO Capital Markets reiterated a “hold” rating and issued a $7.00 target price on shares of AK Steel in a research report on Thursday, October 5th. Finally, Longbow Research reiterated a “neutral” rating on shares of AK Steel in a research report on Tuesday, October 3rd. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. AK Steel presently has a consensus rating of “Buy” and an average price target of $7.54.

The company has a debt-to-equity ratio of 11.89, a current ratio of 1.92 and a quick ratio of 0.75. The firm has a market capitalization of $1,960.00, a PE ratio of 41.47, a PEG ratio of 1.57 and a beta of 2.90.

AK Steel (NYSE:AKS) last issued its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). AK Steel had a return on equity of 140.37% and a net margin of 0.92%. equities research analysts predict that AK Steel Holding Co. will post 0.26 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Archford Capital Strategies LLC raised its position in shares of AK Steel by 12,352.2% during the second quarter. Archford Capital Strategies LLC now owns 14,320 shares of the basic materials company’s stock worth $1,909,000 after acquiring an additional 14,205 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in AK Steel by 74.4% in the second quarter. Riverhead Capital Management LLC now owns 17,616 shares of the basic materials company’s stock worth $116,000 after purchasing an additional 7,516 shares in the last quarter. Crow Point Partners LLC bought a new stake in AK Steel in the fourth quarter worth approximately $110,000. MML Investors Services LLC bought a new stake in AK Steel in the second quarter worth approximately $141,000. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in AK Steel by 0.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,887 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 193 shares in the last quarter. Institutional investors own 65.21% of the company’s stock.

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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.

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