Prudential Financial Inc. Has $1.15 Million Position in AK Steel Holding Co. (NYSE:AKS)

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.

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

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

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