AK Steel Holding Co. (AKS) Stake Decreased by Texas Permanent School Fund

Texas Permanent School Fund reduced its position in AK Steel Holding Co. (NYSE:AKS) by 7.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 212,787 shares of the basic materials company’s stock after selling 17,023 shares during the quarter. Texas Permanent School Fund’s holdings in AK Steel were worth $1,204,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AKS. State of New Jersey Common Pension Fund D bought a new stake in shares of AK Steel in the 3rd quarter valued at about $81,614,000. Creative Planning boosted its holdings in shares of AK Steel by 66.7% in the 4th quarter. Creative Planning now owns 2,327,366 shares of the basic materials company’s stock valued at $13,173,000 after buying an additional 931,560 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of AK Steel by 14.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,162,355 shares of the basic materials company’s stock valued at $40,489,000 after buying an additional 772,725 shares in the last quarter. Benefit Street Partners LLC bought a new stake in shares of AK Steel in the 2nd quarter valued at about $4,008,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of AK Steel by 10.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,165,221 shares of the basic materials company’s stock valued at $23,284,000 after buying an additional 404,540 shares in the last quarter. Institutional investors and hedge funds own 64.50% of the company’s stock.

AK Steel Holding Co. (AKS) opened at $4.76 on Tuesday. AK Steel Holding Co. has a 1 year low of $4.00 and a 1 year high of $9.19. The company has a debt-to-equity ratio of 15.72, a quick ratio of 0.69 and a current ratio of 1.83. The stock has a market cap of $1,416.98, a P/E ratio of 238.12, a price-to-earnings-growth ratio of 1.69 and a beta of 2.88.

AK Steel (NYSE:AKS) last posted its quarterly earnings results on Tuesday, January 30th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.07. AK Steel had a net margin of 0.16% and a return on equity of 70.67%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the firm posted $0.25 EPS. AK Steel’s revenue for the quarter was up 5.4% compared to the same quarter last year. equities analysts predict that AK Steel Holding Co. will post 0.53 earnings per share for the current fiscal year.

Several equities analysts recently commented on AKS shares. BMO Capital Markets reaffirmed a “hold” rating on shares of AK Steel in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of AK Steel from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a research report on Monday, January 8th. Cowen reaffirmed a “hold” rating and issued a $7.00 price objective on shares of AK Steel in a research report on Thursday, January 4th. Citigroup decreased their price objective on shares of AK Steel from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of AK Steel from $8.00 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. AK Steel presently has a consensus rating of “Hold” and a consensus target price of $6.88.

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AK Steel 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.

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

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