AK Steel Holding Corporation (AKS) Position Reduced by LMR Partners LLP
LMR Partners LLP lessened its stake in AK Steel Holding Corporation (NYSE:AKS) by 88.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,196 shares of the basic materials company’s stock after selling 167,555 shares during the quarter. LMR Partners LLP’s holdings in AK Steel were worth $124,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AKS. Aperio Group LLC increased its holdings in AK Steel by 19.1% in the second quarter. Aperio Group LLC now owns 106,889 shares of the basic materials company’s stock valued at $702,000 after purchasing an additional 17,165 shares during the last quarter. US Bancorp DE increased its holdings in AK Steel by 4.9% in the second quarter. US Bancorp DE now owns 58,907 shares of the basic materials company’s stock valued at $387,000 after purchasing an additional 2,763 shares during the last quarter. Parkwood LLC bought a new stake in AK Steel in the second quarter valued at about $164,000. Municipal Employees Retirement System of Michigan increased its holdings in AK Steel by 3.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 74,320 shares of the basic materials company’s stock valued at $488,000 after purchasing an additional 2,800 shares during the last quarter. Finally, Bowling Portfolio Management LLC increased its holdings in AK Steel by 153.3% in the second quarter. Bowling Portfolio Management LLC now owns 214,537 shares of the basic materials company’s stock valued at $1,410,000 after purchasing an additional 129,852 shares during the last quarter. Institutional investors and hedge funds own 65.12% of the company’s stock.
AK Steel Holding Corporation (NYSE AKS) opened at $4.89 on Thursday. AK Steel Holding Corporation has a 52 week low of $4.00 and a 52 week high of $11.39. The company has a quick ratio of 0.75, a current ratio of 1.92 and a debt-to-equity ratio of 11.89. The stock has a market capitalization of $1,508.27, a PE ratio of 7.37, a price-to-earnings-growth ratio of 3.86 and a beta of 2.93.
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AK Steel Company Profile
AK Steel Holding Corporation 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.
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