AK Steel Holding Corporation (NYSE:AKS) Trading Volume Significantly Higher


AK Steel Holding Corporation shares had a trading volume of 14,182K on Friday. Overall, volume was up 53.40% over the stocks normal daily volume.

Here are a few other firms who have also updated their positions. Morgan Stanley downsized its stake by selling 12,787 shares a decrease of 15.2%. Morgan Stanley controls 71,345 shares worth $513,000. The value of the position overall is down by 40.3%. As of quarter end Tower Research Capital LLC (trc) had disposed of 15,110 shares trimming its stake by 77.9%. The value of the investment in AK Steel Holding Corporation went from $198,000 to $31,000 a change of 84.3% quarter to quarter.

As of the end of the quarter Goldman Sachs Group Inc had bought a total of 5,269,717 shares growing its holdings by 29,203.2%. The value in dollars increased from $184,000 to $38,019,000 a change of $37,835,000 since the last quarter. As of the end of the quarter Nomura Holdings Inc had bought 15,634 shares growing its position 110.6%. The value of the investment in (AKS) went from $144,000 to $214,000 increasing 48.6% quarter over quarter.

On June 23 the company was set at “Buy” by Deutsche Bank which is up from the previous “Hold” rating. On June 19, 2017 the stock rating was changed to a “Buy” in a report from Longbow Research a boost from the previous “Neutral” rating.

Equity analyst Longbow Research started coverage with an initial rating of “Neutral”. On November 30 JP Morgan made no change to the stock rating of “Overweight” but raised the price expectation to $11.00 from $5.50.

On November 29 the company was rated “Neutral” according to a Macquarie report down from the previous “Outperform” rating. November 23 investment analysts at Barclays maintained a company rating of “Equal-Weight” but moved up the price target from $5.00 to $9.00.

The company is down since yesterday’s close of $6.645. Company shares last traded at $6.50 slightly over the 50 day moving average of $6.07 and a tad below the 200 day moving average of $7.72. The 50 day moving average was up $0.43 or +7.00% whereas the 200 day moving average was down $-1.22 or -15.85%.

The P/E ratio is 25.19 and market cap is 2.05B. In the last earnings report the EPS was $0.26 and is projected to be $0.62 for the current year with 314,825,000 shares presently outstanding. Next quarter’s EPS is expected be $0.17 and the next full year EPS is anticipated to be $0.72.

AK Steel Holding Corporation, launched on December 20, 1993, 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. These operations produce flat-rolled carbon, specialty stainless and electrical steels that it sells in sheet and strip form, and carbon and stainless steel that it finishes into welded steel tubing. The Company, through its subsidiary, AK Coal Resources, Inc. (AK Coal) produces metallurgical coal. In addition, it operates trading companies in Mexico and Europe that buy and sell steel, and steel products and other materials..

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