16,363 Shares in AK Steel Holding Co. (AKS) Purchased by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV purchased a new position in shares of AK Steel Holding Co. (NYSE:AKS) in the first quarter, HoldingsChannel.com reports. The firm purchased 16,363 shares of the basic materials company’s stock, valued at approximately $45,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wedbush Securities Inc. grew its holdings in shares of AK Steel by 29.0% during the 1st quarter. Wedbush Securities Inc. now owns 144,410 shares of the basic materials company’s stock worth $397,000 after purchasing an additional 32,505 shares in the last quarter. Heritage Investors Management Corp acquired a new stake in shares of AK Steel during the 1st quarter worth approximately $52,000. Geode Capital Management LLC grew its holdings in shares of AK Steel by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 3,250,537 shares of the basic materials company’s stock worth $7,313,000 after purchasing an additional 181,124 shares in the last quarter. Norges Bank acquired a new stake in shares of AK Steel during the 4th quarter worth approximately $2,751,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of AK Steel by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,423,378 shares of the basic materials company’s stock worth $16,703,000 after purchasing an additional 368,190 shares in the last quarter. 62.78% of the stock is owned by institutional investors.

Shares of AKS stock opened at $2.36 on Friday. The company has a current ratio of 2.05, a quick ratio of 0.78 and a debt-to-equity ratio of 4.74. The firm has a market capitalization of $746.56 million, a P/E ratio of 3.69, a P/E/G ratio of 1.00 and a beta of 2.73. AK Steel Holding Co. has a one year low of $2.05 and a one year high of $5.40.

AK Steel (NYSE:AKS) last announced its quarterly earnings results on Monday, April 29th. The basic materials company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.10. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.75 billion. AK Steel had a return on equity of 61.44% and a net margin of 2.23%. AK Steel’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 EPS. Research analysts expect that AK Steel Holding Co. will post 0.47 earnings per share for the current fiscal year.

Several analysts have recently weighed in on AKS shares. Morgan Stanley lowered AK Steel from an “overweight” rating to an “equal weight” rating and set a $2.80 price objective on the stock. in a report on Monday, January 28th. Macquarie lowered AK Steel from an “outperform” rating to a “neutral” rating and set a $3.00 price objective on the stock. in a report on Tuesday, January 29th. Longbow Research lowered AK Steel from a “buy” rating to a “neutral” rating and set a $2.77 price objective on the stock. in a report on Wednesday, January 30th. Bank of America lowered AK Steel from a “buy” rating to an “underperform” rating and decreased their price target for the company from $5.00 to $2.50 in a research note on Wednesday, January 30th. Finally, Deutsche Bank decreased their price target on AK Steel to $2.50 and set a “hold” rating on the stock in a research note on Tuesday, February 5th. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $3.15.

COPYRIGHT VIOLATION NOTICE: This story was first published by Baseball Daily News and is owned by of Baseball Daily News. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright & trademark law. The original version of this story can be viewed at https://www.baseballdailydigest.com/news/2019/05/18/16363-shares-in-ak-steel-holding-co-aks-purchased-by-mercer-global-advisors-inc-adv.html.

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.

See Also: Earnings Per Share (EPS)

Want to see what other hedge funds are holding AKS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AK Steel Holding Co. (NYSE:AKS).

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

Receive News & Ratings for AK Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AK Steel and related companies with MarketBeat.com's FREE daily email newsletter.