24,479 Shares in AK Steel Holding Co. (AKS) Acquired by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC purchased a new stake in shares of AK Steel Holding Co. (NYSE:AKS) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 24,479 shares of the basic materials company’s stock, valued at approximately $61,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Thrivent Financial for Lutherans boosted its position in AK Steel by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 225,353 shares of the basic materials company’s stock valued at $507,000 after buying an additional 4,956 shares during the period. Shoker Investment Counsel Inc. raised its holdings in AK Steel by 42.6% in the 4th quarter. Shoker Investment Counsel Inc. now owns 25,360 shares of the basic materials company’s stock worth $57,000 after purchasing an additional 7,580 shares in the last quarter. Comerica Bank raised its holdings in AK Steel by 2.5% in the 1st quarter. Comerica Bank now owns 312,650 shares of the basic materials company’s stock worth $866,000 after purchasing an additional 7,716 shares in the last quarter. Wedbush Securities Inc. raised its holdings in AK Steel by 7.5% in the 4th quarter. Wedbush Securities Inc. now owns 111,905 shares of the basic materials company’s stock worth $252,000 after purchasing an additional 7,795 shares in the last quarter. Finally, Texas Permanent School Fund raised its holdings in AK Steel by 4.0% in the 4th quarter. Texas Permanent School Fund now owns 206,487 shares of the basic materials company’s stock worth $465,000 after purchasing an additional 7,966 shares in the last quarter. 60.74% of the stock is owned by institutional investors and hedge funds.

Shares of AK Steel stock opened at $2.22 on Thursday. The company has a debt-to-equity ratio of 4.74, a current ratio of 2.05 and a quick ratio of 0.78. The stock has a market capitalization of $727.59 million, a P/E ratio of 3.47, a price-to-earnings-growth ratio of 0.99 and a beta of 2.73. AK Steel Holding Co. has a 1 year low of $2.05 and a 1 year high of $5.40.

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

Several research analysts have commented on the stock. Credit Suisse Group lowered shares of AK Steel from a “neutral” rating to an “underperform” rating in a report on Thursday. Longbow Research lowered shares of AK Steel from a “buy” rating to a “neutral” rating and set a $2.77 price objective for the company. in a report on Wednesday, January 30th. Zacks Investment Research upgraded shares of AK Steel from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a report on Tuesday, February 12th. Macquarie lowered shares of AK Steel from an “outperform” rating to a “neutral” rating and set a $3.00 price objective for the company. in a report on Tuesday, January 29th. Finally, TheStreet upgraded shares of AK Steel from a “d+” rating to a “c-” rating in a report on Thursday, February 21st. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $3.15.

ILLEGAL ACTIVITY WARNING: This report was first reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this report on another website, it was illegally copied and reposted in violation of US & international trademark and copyright laws. The original version of this report can be accessed at https://www.baseballdailydigest.com/news/2019/05/23/24479-shares-in-ak-steel-holding-co-aks-acquired-by-highpoint-advisor-group-llc.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.

Further Reading: How interest rates affect municipal bond prices

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.