Arizona State Retirement System Grows Stake in AK Steel Holding Co. (AKS)

Arizona State Retirement System grew its position in AK Steel Holding Co. (NYSE:AKS) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 485,931 shares of the basic materials company’s stock after acquiring an additional 28,239 shares during the quarter. Arizona State Retirement System’s holdings in AK Steel were worth $1,093,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AKS. Flagship Harbor Advisors LLC lifted its position in AK Steel by 124.1% during the fourth quarter. Flagship Harbor Advisors LLC now owns 31,570 shares of the basic materials company’s stock worth $71,000 after buying an additional 17,480 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in AK Steel by 1,136.9% during the third quarter. Tower Research Capital LLC TRC now owns 22,956 shares of the basic materials company’s stock worth $113,000 after buying an additional 21,100 shares in the last quarter. MML Investors Services LLC lifted its position in AK Steel by 105.9% during the third quarter. MML Investors Services LLC now owns 25,343 shares of the basic materials company’s stock worth $124,000 after buying an additional 13,037 shares in the last quarter. Exane Derivatives purchased a new position in AK Steel during the third quarter worth approximately $143,000. Finally, HRT Financial LLC purchased a new position in AK Steel during the third quarter worth approximately $146,000. Institutional investors and hedge funds own 65.71% of the company’s stock.

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In other AK Steel news, CEO Roger K. Newport bought 10,000 shares of AK Steel stock in a transaction on Tuesday, November 27th. The shares were bought at an average price of $3.03 per share, for a total transaction of $30,300.00. Following the completion of the transaction, the chief executive officer now directly owns 461,297 shares of the company’s stock, valued at $1,397,729.91. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.13% of the stock is owned by insiders.

NYSE:AKS opened at $3.12 on Wednesday. AK Steel Holding Co. has a 52 week low of $2.05 and a 52 week high of $6.05. The company has a current ratio of 1.95, a quick ratio of 0.69 and a debt-to-equity ratio of 4.64. The firm has a market capitalization of $940.32 million, a price-to-earnings ratio of 4.88, a price-to-earnings-growth ratio of 1.06 and a beta of 2.73.

AK Steel (NYSE:AKS) last posted its earnings results on Monday, January 28th. The basic materials company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.05. AK Steel had a return on equity of 54.01% and a net margin of 2.73%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business earned ($0.06) earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, research analysts predict that AK Steel Holding Co. will post 0.56 EPS for the current fiscal year.

A number of brokerages recently commented on AKS. Longbow Research downgraded AK Steel from a “buy” rating to a “neutral” rating and set a $2.77 price objective on the stock. in a research report on Wednesday, January 30th. Cowen began coverage on AK Steel in a research report on Tuesday, January 8th. They set a “market perform” rating and a $2.50 price objective on the stock. Zacks Investment Research upgraded AK Steel from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a research report on Tuesday, February 12th. Macquarie downgraded AK Steel from an “outperform” rating to a “neutral” rating and set a $3.00 price objective on the stock. in a research report on Tuesday, January 29th. Finally, Morgan Stanley set a $5.00 price objective on AK Steel and gave the stock a “buy” rating in a research report on Wednesday, November 7th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $3.76.

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About AK Steel

AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, stainless, and electrical steels, and tubular 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.

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