Legal & General Group Plc Has $3.44 Million Position in AK Steel Holding Co. (AKS)

Legal & General Group Plc lowered its position in shares of AK Steel Holding Co. (NYSE:AKS) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 796,060 shares of the basic materials company’s stock after selling 19,010 shares during the quarter. Legal & General Group Plc owned approximately 0.25% of AK Steel worth $3,444,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in shares of AK Steel by 106.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 22,076 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 11,370 shares during the last quarter. BB&T Securities LLC acquired a new position in shares of AK Steel in the 1st quarter valued at $104,000. Truepoint Inc. boosted its holdings in shares of AK Steel by 21,958.8% in the 2nd quarter. Truepoint Inc. now owns 30,000 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 29,864 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of AK Steel by 136.6% in the 1st quarter. SG Americas Securities LLC now owns 30,130 shares of the basic materials company’s stock valued at $136,000 after purchasing an additional 17,396 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of AK Steel by 199.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 30,484 shares of the basic materials company’s stock valued at $138,000 after purchasing an additional 20,292 shares during the last quarter. Hedge funds and other institutional investors own 64.97% of the company’s stock.

NYSE:AKS opened at $4.82 on Thursday. The company has a current ratio of 2.01, a quick ratio of 0.76 and a debt-to-equity ratio of 5.49. The firm has a market cap of $1.52 billion, a P/E ratio of 17.89, a price-to-earnings-growth ratio of 1.33 and a beta of 2.85. AK Steel Holding Co. has a twelve month low of $4.00 and a twelve month high of $6.80.

AK Steel (NYSE:AKS) last posted its earnings results on Monday, July 30th. The basic materials company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.75 billion. AK Steel had a negative net margin of 0.44% and a positive return on equity of 33.56%. The business’s revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 EPS. sell-side analysts forecast that AK Steel Holding Co. will post 0.73 EPS for the current year.

A number of equities analysts have weighed in on the stock. ValuEngine lowered shares of AK Steel from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Zacks Investment Research upgraded shares of AK Steel from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Tuesday, July 17th. Deutsche Bank lowered shares of AK Steel from a “buy” rating to a “hold” rating and decreased their price target for the company from $6.00 to $5.00 in a report on Monday, July 9th. Clarkson Capital upgraded shares of AK Steel from a “neutral” rating to a “buy” rating in a report on Tuesday, September 11th. Finally, Bank of America upgraded shares of AK Steel from an “underperform” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Friday, September 7th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $5.40.

In other AK Steel news, CEO Roger K. Newport bought 10,000 shares of AK Steel stock in a transaction that occurred on Wednesday, August 15th. The shares were acquired at an average price of $4.03 per share, for a total transaction of $40,300.00. Following the acquisition, the chief executive officer now owns 451,297 shares of the company’s stock, valued at approximately $1,818,726.91. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.13% of the company’s stock.

AK Steel Company Profile

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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Institutional Ownership by Quarter for AK Steel (NYSE:AKS)

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