Sippican Capital Advisors Decreases Position in AK Steel Holding Co. (AKS)

Sippican Capital Advisors decreased its position in shares of AK Steel Holding Co. (NYSE:AKS) by 40.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,000 shares of the basic materials company’s stock after selling 10,232 shares during the period. Sippican Capital Advisors’ holdings in AK Steel were worth $41,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in AK Steel by 0.4% during the 4th quarter. BlackRock Inc. now owns 45,940,049 shares of the basic materials company’s stock worth $103,367,000 after acquiring an additional 197,294 shares in the last quarter. Vanguard Group Inc. raised its position in AK Steel by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 32,062,343 shares of the basic materials company’s stock valued at $157,105,000 after purchasing an additional 531,265 shares in the last quarter. Vanguard Group Inc raised its position in AK Steel by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 32,062,343 shares of the basic materials company’s stock valued at $157,105,000 after purchasing an additional 531,265 shares in the last quarter. JPMorgan Chase & Co. raised its position in AK Steel by 62.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,833,600 shares of the basic materials company’s stock valued at $48,184,000 after purchasing an additional 3,763,963 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in AK Steel by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,423,378 shares of the basic materials company’s stock valued at $16,703,000 after purchasing an additional 368,190 shares in the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE AKS traded up $0.07 during midday trading on Wednesday, hitting $2.58. 2,374,228 shares of the company’s stock were exchanged, compared to its average volume of 6,889,748. The company has a debt-to-equity ratio of 4.64, a quick ratio of 0.69 and a current ratio of 1.95. AK Steel Holding Co. has a twelve month low of $2.05 and a twelve month high of $5.40. The firm has a market capitalization of $809.28 million, a PE ratio of 4.02, a price-to-earnings-growth ratio of 1.09 and a beta of 2.83.

AK Steel (NYSE:AKS) last issued its earnings results on Monday, January 28th. The basic materials company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. AK Steel had a return on equity of 54.01% and a net margin of 2.73%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the company earned ($0.06) EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts forecast 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 the company. Deutsche Bank reduced their price target on AK Steel to $2.50 and set a “hold” rating on the stock in a research report on Tuesday, February 5th. TheStreet raised AK Steel from a “d+” rating to a “c-” rating in a research report on Thursday, February 21st. Zacks Investment Research lowered AK Steel from a “buy” rating to a “hold” rating in a research report on Thursday, February 14th. Bank of America lowered AK Steel from a “buy” rating to an “underperform” rating and reduced their price target for the company from $5.00 to $2.50 in a research report on Wednesday, January 30th. Finally, Longbow Research lowered AK Steel from a “buy” rating to a “neutral” rating and set a $2.77 price target on the stock. in a research report on Wednesday, January 30th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. AK Steel presently has an average rating of “Hold” and a consensus target price 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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