AK Steel Holding Corp. (AKS) Short Interest Update
AK Steel Holding Corp. (NYSE:AKS) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 67,656,644 shares, a growth of 19.4% from the September 15th total of 56,677,944 shares. Currently, 29.3% of the shares of the stock are sold short. Based on an average trading volume of 13,941,533 shares, the short-interest ratio is presently 4.9 days.
In other news, Director Vicente Wright sold 27,000 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $6.70, for a total transaction of $180,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.
Large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in AK Steel Holding Corp. by 61.5% in the first quarter. BlackRock Inc. now owns 24,495 shares of the company’s stock valued at $101,000 after buying an additional 9,327 shares in the last quarter. PineBridge Investments L.P. boosted its position in AK Steel Holding Corp. by 41.7% in the second quarter. PineBridge Investments L.P. now owns 30,205 shares of the company’s stock worth $141,000 after buying an additional 8,896 shares during the period. Raymond James & Associates boosted its position in AK Steel Holding Corp. by 4.7% in the second quarter. Raymond James & Associates now owns 30,628 shares of the company’s stock worth $143,000 after buying an additional 1,386 shares during the period. Quantbot Technologies LP bought a new position in AK Steel Holding Corp. during the second quarter worth approximately $148,000. Finally, Teacher Retirement System of Texas boosted its position in AK Steel Holding Corp. by 47.0% in the second quarter. Teacher Retirement System of Texas now owns 31,744 shares of the company’s stock worth $148,000 after buying an additional 10,149 shares during the period. 68.71% of the stock is owned by institutional investors and hedge funds.
AK Steel Holding Corp. (NYSE:AKS) opened at 4.51 on Friday. The company’s 50-day moving average is $4.57 and its 200-day moving average is $4.72. The firm’s market cap is $1.07 billion. AK Steel Holding Corp. has a one year low of $1.64 and a one year high of $7.09.
AK Steel Holding Corp. (NYSE:AKS) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. AK Steel Holding Corp. had a negative net margin of 2.18% and a negative return on equity of 12.89%. The business earned $1.49 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the business posted ($0.36) earnings per share. AK Steel Holding Corp.’s revenue was down 11.7% compared to the same quarter last year. On average, analysts forecast that AK Steel Holding Corp. will post $0.32 earnings per share for the current fiscal year.
AKS has been the subject of several analyst reports. Zacks Investment Research raised shares of AK Steel Holding Corp. from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a report on Tuesday, June 28th. Credit Suisse Group AG reissued an “outperform” rating on shares of AK Steel Holding Corp. in a report on Wednesday, July 6th. Deutsche Bank AG reissued a “sell” rating on shares of AK Steel Holding Corp. in a report on Thursday, July 7th. Barclays PLC lifted their price target on shares of AK Steel Holding Corp. from $4.00 to $5.00 and gave the company an “equal weight” rating in a report on Tuesday, July 12th. Finally, Cowen and Company lifted their price target on shares of AK Steel Holding Corp. from $5.00 to $7.00 and gave the company a “market perform” rating in a report on Wednesday, July 27th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $5.30.
AK Steel Holding Corp. Company Profile
AK Steel Holding Corporation is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company operates approximately eight steelmaking and finishing plants, over two coke plants and approximately two tube manufacturing plants across states, which include Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.
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