KBC Group NV Trims Holdings in AK Steel Holding Co. (AKS)

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KBC Group NV decreased its stake in shares of AK Steel Holding Co. (NYSE:AKS) by 32.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 526,763 shares of the basic materials company’s stock after selling 253,884 shares during the period. KBC Group NV’s holdings in AK Steel were worth $2,286,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Creative Planning boosted its position in shares of AK Steel by 5.8% during the second quarter. Creative Planning now owns 1,810,936 shares of the basic materials company’s stock valued at $7,859,000 after buying an additional 100,004 shares during the last quarter. Raymond James & Associates boosted its position in shares of AK Steel by 182.0% during the fourth quarter. Raymond James & Associates now owns 117,679 shares of the basic materials company’s stock valued at $666,000 after buying an additional 75,946 shares during the last quarter. AlphaMark Advisors LLC purchased a new position in shares of AK Steel during the first quarter valued at approximately $272,000. SG Americas Securities LLC boosted its position in shares of AK Steel by 136.6% during the first quarter. SG Americas Securities LLC now owns 30,130 shares of the basic materials company’s stock valued at $136,000 after buying an additional 17,396 shares during the last quarter. Finally, LPL Financial LLC boosted its position in shares of AK Steel by 21.8% during the first quarter. LPL Financial LLC now owns 99,289 shares of the basic materials company’s stock valued at $450,000 after buying an additional 17,739 shares during the last quarter. 61.93% of the stock is currently owned by institutional investors.

AKS has been the topic of several analyst reports. Zacks Investment Research raised AK Steel from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research report on Tuesday, July 17th. Deutsche Bank cut AK Steel from a “buy” rating to a “hold” rating and cut their target price for the company from $6.00 to $5.00 in a research report on Monday, July 9th. ValuEngine raised AK Steel from a “sell” rating to a “hold” rating in a research report on Friday, May 4th. BMO Capital Markets cut their price objective on AK Steel from $7.00 to $5.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 1st. Finally, Cowen cut their price objective on AK Steel from $5.00 to $4.50 and set a “market perform” rating on the stock in a research report on Tuesday, May 1st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $5.47.

AKS stock opened at $4.37 on Friday. The company has a debt-to-equity ratio of 5.49, a quick ratio of 0.76 and a current ratio of 2.01. AK Steel Holding Co. has a 1-year low of $4.00 and a 1-year high of $6.80. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.19 and a beta of 2.84.

AK Steel (NYSE:AKS) last posted its quarterly earnings data on Monday, July 30th. The basic materials company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). AK Steel had a positive return on equity of 33.56% and a negative net margin of 0.44%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the firm posted $0.19 EPS. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. research analysts predict that AK Steel Holding Co. will post 0.72 earnings per share for the current year.

In other AK Steel news, Director William K. Gerber sold 12,000 shares of the business’s stock in a transaction on Thursday, May 31st. The stock was sold at an average price of $4.65, for a total value of $55,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Roger K. Newport bought 10,000 shares of the stock in a transaction on Wednesday, August 15th. The stock was purchased at an average price of $4.03 per share, for a total transaction of $40,300.00. Following the completion of the purchase, the chief executive officer now owns 451,297 shares of the company’s stock, valued at $1,818,726.91. The disclosure for this purchase can be found here. 1.13% of the stock is currently owned by insiders.

About AK Steel

AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, stainless, and electrical steels, and tubular 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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