AK Steel Holding Co. (NYSE:AKS) shares saw unusually-strong trading volume on Tuesday . Approximately 42,614,783 shares were traded during mid-day trading, an increase of 379% from the previous session’s volume of 8,898,271 shares.The stock last traded at $3.01 and had previously closed at $2.89.
AKS has been the subject of a number of recent analyst reports. UBS Group reiterated a “sell” rating and issued a $2.00 target price (down previously from $2.25) on shares of AK Steel in a research report on Thursday, November 14th. Exane BNP Paribas began coverage on shares of AK Steel in a research report on Thursday, November 14th. They set an “underperform” rating and a $2.00 price target on the stock. JPMorgan Chase & Co. downgraded shares of AK Steel from an “overweight” rating to an “underweight” rating in a research report on Monday, September 23rd. Finally, ValuEngine raised shares of AK Steel from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $2.44.
The company has a 50 day moving average of $2.61 and a two-hundred day moving average of $2.37. The firm has a market cap of $873.32 million, a P/E ratio of 4.70, a PEG ratio of 1.54 and a beta of 3.14. The company has a quick ratio of 0.70, a current ratio of 2.06 and a debt-to-equity ratio of 4.77.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Nuveen Asset Management LLC bought a new stake in shares of AK Steel in the 2nd quarter worth approximately $19,294,000. Point72 Asset Management L.P. acquired a new stake in AK Steel during the second quarter valued at approximately $5,514,000. Renaissance Technologies LLC acquired a new stake in AK Steel during the second quarter valued at approximately $4,893,000. Invesco Ltd. boosted its holdings in AK Steel by 227.8% during the second quarter. Invesco Ltd. now owns 2,157,060 shares of the basic materials company’s stock worth $5,112,000 after buying an additional 1,498,960 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in AK Steel by 125.4% during the second quarter. Morgan Stanley now owns 2,431,379 shares of the basic materials company’s stock worth $5,763,000 after buying an additional 1,352,519 shares in the last quarter. 59.33% of the stock is currently owned by institutional investors.
About AK Steel (NYSE:AKS)
AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, and stainless and electrical steel 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.
Read More: Correction
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.