Municipal Employees Retirement System of Michigan Invests $205,000 in AK Steel Holding Co. (AKS) Stock

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Municipal Employees Retirement System of Michigan acquired a new position in shares of AK Steel Holding Co. (NYSE:AKS) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 91,260 shares of the basic materials company’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in AK Steel by 0.4% in the fourth quarter. BlackRock Inc. now owns 45,940,049 shares of the basic materials company’s stock valued at $103,367,000 after buying an additional 197,294 shares during the last quarter. Vanguard Group Inc. lifted its stake in AK Steel by 1.7% in the third quarter. Vanguard Group Inc. now owns 32,062,343 shares of the basic materials company’s stock valued at $157,105,000 after buying an additional 531,265 shares during the last quarter. Vanguard Group Inc lifted its stake in AK Steel by 1.7% in the third quarter. Vanguard Group Inc now owns 32,062,343 shares of the basic materials company’s stock valued at $157,105,000 after buying an additional 531,265 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in AK Steel by 62.0% in the third quarter. JPMorgan Chase & Co. now owns 9,833,600 shares of the basic materials company’s stock valued at $48,184,000 after buying an additional 3,763,963 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in AK Steel by 5.2% in 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 last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.

Shares of NYSE AKS opened at $2.51 on Wednesday. AK Steel Holding Co. has a fifty-two week low of $2.05 and a fifty-two week high of $5.40. The company has a current ratio of 1.95, a quick ratio of 0.69 and a debt-to-equity ratio of 4.64. The stock has a market cap of $774.95 million, a P/E ratio of 3.92, a P/E/G ratio of 1.09 and a beta of 2.83.

AK Steel (NYSE:AKS) last issued its quarterly earnings data on Monday, January 28th. The basic materials company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. AK Steel had a net margin of 2.73% and a return on equity of 54.01%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the business earned ($0.06) earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. As a group, analysts predict that AK Steel Holding Co. will post 0.45 earnings per share for the current fiscal year.

A number of equities research analysts have issued reports on AKS shares. Longbow Research cut AK Steel from a “buy” rating to a “neutral” rating and set a $2.77 target price on the stock. in a research note on Wednesday, January 30th. Zacks Investment Research cut AK Steel from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. Macquarie cut AK Steel from an “outperform” rating to a “neutral” rating and set a $3.00 target price on the stock. in a research note on Tuesday, January 29th. Morgan Stanley cut AK Steel from an “overweight” rating to an “equal weight” rating and set a $2.80 target price on the stock. in a research note on Monday, January 28th. Finally, TheStreet upgraded AK Steel from a “d+” rating to a “c-” rating in a research note on Thursday, February 21st. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. AK Steel presently has a consensus rating of “Hold” and a consensus price target of $3.55.

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About AK Steel

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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