Prudential Financial Inc. lowered its holdings in AK Steel Holding Co. (NYSE:AKS) by 2.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 511,599 shares of the basic materials company’s stock after selling 12,990 shares during the quarter. Prudential Financial Inc. owned 0.16% of AK Steel worth $1,151,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AKS. BlackRock Inc. lifted its position in shares of AK Steel by 1.6% during the 3rd quarter. BlackRock Inc. now owns 45,742,755 shares of the basic materials company’s stock worth $224,140,000 after buying an additional 717,919 shares during the period. Vanguard Group Inc. lifted its position in shares of AK Steel by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 32,062,343 shares of the basic materials company’s stock worth $157,105,000 after buying an additional 531,265 shares during the period. Vanguard Group Inc lifted its position in shares of AK Steel by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 32,062,343 shares of the basic materials company’s stock worth $157,105,000 after buying an additional 531,265 shares during the period. JPMorgan Chase & Co. lifted its position in shares of AK Steel by 62.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,833,600 shares of the basic materials company’s stock worth $48,184,000 after buying an additional 3,763,963 shares during the period. Finally, Merriman Wealth Management LLC lifted its position in shares of AK Steel by 8.0% during the 4th quarter. Merriman Wealth Management LLC now owns 4,010,050 shares of the basic materials company’s stock worth $10,266,000 after buying an additional 298,500 shares during the period. 62.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AK Steel stock traded down $0.06 during trading on Monday, reaching $2.45. 6,413,800 shares of the company were exchanged, compared to its average volume of 9,749,526. 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 Holding Co. has a twelve month low of $2.05 and a twelve month high of $5.40. The stock has a market cap of $794.98 million, a PE ratio of 3.83, a price-to-earnings-growth ratio of 1.13 and a beta of 2.83.
Several equities analysts have issued reports on the company. Deutsche Bank cut their price objective on AK Steel to $2.50 and set a “hold” rating for the company in a research report on Tuesday, February 5th. Clarkson Capital cut AK Steel from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 16th. Morgan Stanley cut AK Steel from an “overweight” rating to an “equal weight” rating and set a $2.80 target price for the company. in a research note on Monday, January 28th. Zacks Investment Research cut AK Steel from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Finally, Bank of America cut AK Steel from a “buy” rating to an “underperform” rating and lowered their target price for the company from $5.00 to $2.50 in a research note on Wednesday, January 30th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. AK Steel currently has an average rating of “Hold” and an average price target of $3.55.
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AK Steel Company 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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