AK Steel Sees Unusually High Options Volume (AKS)

AK Steel Holding Co. (NYSE:AKS) was the target of some unusual options trading on Tuesday. Stock traders acquired 19,759 put options on the company. This represents an increase of approximately 852% compared to the typical volume of 2,076 put options.

Several equities research analysts recently issued reports on the company. Longbow Research reissued a “neutral” rating on shares of AK Steel in a research note on Tuesday, October 3rd. KeyCorp reissued a “hold” rating on shares of AK Steel in a research note on Tuesday, September 19th. Credit Suisse Group raised AK Steel from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $6.00 to $7.00 in a research note on Tuesday, November 21st. Macquarie assumed coverage on AK Steel in a research note on Wednesday, September 6th. They issued an “outperform” rating and a $7.00 price objective for the company. Finally, raised AK Steel from a “neutral” rating to an “outperform” rating in a research note on Tuesday, November 21st. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. AK Steel presently has an average rating of “Buy” and a consensus target price of $7.46.

Shares of AK Steel (AKS) opened at $5.28 on Friday. AK Steel has a one year low of $4.00 and a one year high of $11.28. The company has a debt-to-equity ratio of 11.89, a quick ratio of 0.75 and a current ratio of 1.92. The firm has a market capitalization of $1,678.30, a PE ratio of 8.20, a PEG ratio of 4.29 and a beta of 2.89.

Institutional investors and hedge funds have recently bought and sold shares of the company. Archford Capital Strategies LLC raised its stake in shares of AK Steel by 12,352.2% during the 2nd quarter. Archford Capital Strategies LLC now owns 14,320 shares of the basic materials company’s stock worth $1,909,000 after purchasing an additional 14,205 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of AK Steel by 74.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 17,616 shares of the basic materials company’s stock worth $116,000 after purchasing an additional 7,516 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of AK Steel by 35.0% during the 2nd quarter. Alps Advisors Inc. now owns 17,639 shares of the basic materials company’s stock worth $116,000 after purchasing an additional 4,573 shares in the last quarter. World Asset Management Inc raised its stake in shares of AK Steel by 2.5% during the 2nd quarter. World Asset Management Inc now owns 20,471 shares of the basic materials company’s stock worth $134,000 after purchasing an additional 502 shares in the last quarter. Finally, MML Investors Services LLC purchased a new stake in shares of AK Steel during the 2nd quarter worth about $141,000. 65.31% of the stock is owned by institutional investors.

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About AK Steel

AK Steel Holding Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company also operates blast furnaces and electric arc furnaces. As of December 31, 2016, its operations included eight steelmaking and finishing plants, two coke plants and two tube manufacturing plants across states, including Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia, and a tube manufacturing plant in Mexico.

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