Magnus Financial Group LLC increased its position in shares of AK Steel Holding Co. (NYSE:AKS) by 43.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,233 shares of the basic materials company’s stock after buying an additional 17,551 shares during the quarter. Magnus Financial Group LLC’s holdings in AK Steel were worth $138,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of AK Steel during the fourth quarter valued at approximately $2,751,000. Systematic Financial Management LP purchased a new position in shares of AK Steel during the first quarter valued at approximately $1,154,000. Dimensional Fund Advisors LP boosted its position in shares of AK Steel by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,423,378 shares of the basic materials company’s stock valued at $16,703,000 after buying an additional 368,190 shares during the period. SG Americas Securities LLC purchased a new position in shares of AK Steel during the first quarter valued at approximately $915,000. Finally, Merriman Wealth Management LLC boosted its position in shares of AK Steel by 5.0% during the second quarter. Merriman Wealth Management LLC now owns 4,208,800 shares of the basic materials company’s stock valued at $9,975,000 after buying an additional 200,000 shares during the period. Institutional investors and hedge funds own 61.84% of the company’s stock.

AKS traded down $0.05 during trading on Wednesday, hitting $2.36. The company’s stock had a trading volume of 134,671 shares, compared to its average volume of 10,948,936. AK Steel Holding Co. has a twelve month low of $1.66 and a twelve month high of $5.11. The company has a quick ratio of 0.76, a current ratio of 2.02 and a debt-to-equity ratio of 4.54. The stock’s fifty day moving average price is $2.40 and its 200-day moving average price is $2.51. The firm has a market capitalization of $759.34 million, a P/E ratio of 3.69, a PEG ratio of 1.08 and a beta of 3.07.

AK Steel (NYSE:AKS) last issued its quarterly earnings results on Monday, July 29th. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.15. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.73 billion. AK Steel had a return on equity of 57.52% and a net margin of 2.40%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 earnings per share. Equities research analysts expect that AK Steel Holding Co. will post 0.42 EPS for the current fiscal year.

Several research analysts have issued reports on the company. Bank of America restated an “underperform” rating and set a $2.00 target price on shares of AK Steel in a research report on Friday, May 31st. Goldman Sachs Group dropped their target price on shares of AK Steel from $2.25 to $1.50 and set a “buy” rating for the company in a report on Tuesday, June 4th. Citigroup set a $3.00 target price on shares of AK Steel and gave the company a “hold” rating in a report on Wednesday, July 31st. Credit Suisse Group downgraded shares of AK Steel from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $3.50 to $2.05 in a report on Thursday, May 23rd. Finally, BMO Capital Markets set a $3.00 target price on shares of AK Steel and gave the company a “hold” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $2.73.

AK Steel Profile

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.

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

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