Luminus Management LLC bought a new position in AK Steel Holding Co. (NYSE:AKS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 398,076 shares of the basic materials company’s stock, valued at approximately $2,253,000. Luminus Management LLC owned about 0.13% of AK Steel at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crow Point Partners LLC bought a new position in AK Steel in the 4th quarter worth about $110,000. Delpha Capital Management LLC bought a new position in AK Steel in the 4th quarter worth about $123,000. Hourglass Capital LLC bought a new position in AK Steel in the 4th quarter worth about $133,000. Raymond James Financial Services Advisors Inc. grew its position in AK Steel by 0.9% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 21,887 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 193 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in AK Steel in the 4th quarter worth about $155,000. Hedge funds and other institutional investors own 67.81% of the company’s stock.
Several research firms have commented on AKS. Jefferies Group cut shares of AK Steel from a “buy” rating to a “hold” rating and decreased their target price for the stock from $6.64 to $6.50 in a research report on Tuesday, January 9th. Zacks Investment Research cut shares of AK Steel from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Cowen restated a “hold” rating and issued a $7.00 target price on shares of AK Steel in a research report on Thursday, January 4th. Vetr lowered shares of AK Steel from a “strong-buy” rating to a “buy” rating and set a $6.34 price target for the company. in a research note on Thursday, March 8th. Finally, Longbow Research raised shares of AK Steel from a “neutral” rating to a “buy” rating and upped their price target for the stock from $5.53 to $7.00 in a research note on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. AK Steel currently has a consensus rating of “Hold” and an average price target of $6.69.
AK Steel (NYSE:AKS) last released its earnings results on Tuesday, January 30th. The basic materials company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.07. AK Steel had a net margin of 0.16% and a return on equity of 71.24%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the prior year, the business earned $0.25 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. research analysts anticipate that AK Steel Holding Co. will post 0.54 earnings per share for the current year.
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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.
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