Masters Capital Management LLC purchased a new position in shares of AK Steel Holding Co. (NYSE:AKS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,000,000 shares of the basic materials company’s stock, valued at approximately $5,660,000. Masters Capital Management LLC owned 0.32% of AK Steel as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Shellback Capital LP acquired a new stake in shares of AK Steel in the fourth quarter valued at approximately $6,816,000. Creative Planning lifted its position in AK Steel by 66.7% in the 4th quarter. Creative Planning now owns 2,327,366 shares of the basic materials company’s stock valued at $13,173,000 after acquiring an additional 931,560 shares in the last quarter. BlueCrest Capital Management Ltd lifted its position in AK Steel by 77.6% in the 4th quarter. BlueCrest Capital Management Ltd now owns 1,792,056 shares of the basic materials company’s stock valued at $10,143,000 after acquiring an additional 783,002 shares in the last quarter. Ameriprise Financial Inc. increased its stake in AK Steel by 10.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,165,221 shares of the basic materials company’s stock valued at $23,284,000 after buying an additional 404,540 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in AK Steel by 224.0% in the 4th quarter. Arizona State Retirement System now owns 529,076 shares of the basic materials company’s stock valued at $2,995,000 after buying an additional 365,767 shares during the last quarter. Hedge funds and other institutional investors own 67.81% of the company’s stock.
Several equities research analysts have issued reports on AKS shares. Zacks Investment Research upgraded shares of AK Steel from a “hold” rating to a “buy” rating and set a $7.50 price target on the stock in a research note on Monday, January 8th. Longbow Research upgraded shares of AK Steel from a “neutral” rating to a “buy” rating and lifted their price target for the company from $5.53 to $7.00 in a research note on Wednesday, December 20th. Vetr lowered shares of AK Steel from a “strong-buy” rating to a “buy” rating and set a $6.34 price target on the stock. in a research note on Thursday. Morgan Stanley lowered their price target on shares of AK Steel from $7.00 to $6.50 and set an “equal weight” rating on the stock in a research note on Wednesday, January 31st. Finally, Cowen reiterated a “hold” rating and issued a $7.00 price target on shares of AK Steel in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. AK Steel presently has a consensus rating of “Hold” and an average target price of $6.69.
AK Steel (NYSE:AKS) last released its quarterly earnings data on Tuesday, January 30th. The basic materials company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.07. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.46 billion. AK Steel had a net margin of 0.16% and a return on equity of 71.24%. AK Steel’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 EPS. research analysts predict that AK Steel Holding Co. will post 0.54 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This report was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another domain, it was illegally copied and reposted in violation of US & international copyright & trademark law. The correct version of this report can be accessed at https://www.americanbankingnews.com/2018/03/12/masters-capital-management-llc-purchases-new-position-in-ak-steel-holding-co-aks.html.
AK Steel Profile
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.
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.