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.
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.
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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.
See Also: Earnings Per Share (EPS)
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