AK Steel Holding Co. (NYSE:AKS) Shares Bought by MetLife Investment Advisors LLC

MetLife Investment Advisors LLC grew its position in AK Steel Holding Co. (NYSE:AKS) by 32.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 140,543 shares of the basic materials company’s stock after buying an additional 34,211 shares during the quarter. MetLife Investment Advisors LLC’s holdings in AK Steel were worth $386,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AKS. Convergence Investment Partners LLC purchased a new stake in shares of AK Steel during the 1st quarter worth $30,000. Stratos Wealth Partners LTD. acquired a new position in AK Steel during the 4th quarter valued at about $25,000. Janney Montgomery Scott LLC acquired a new position in shares of AK Steel in the first quarter valued at about $33,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of AK Steel in the first quarter valued at about $42,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of AK Steel in the first quarter valued at about $45,000. Institutional investors and hedge funds own 60.80% of the company’s stock.

Shares of NYSE AKS traded down $0.06 during trading on Thursday, reaching $2.22. The stock had a trading volume of 6,642,600 shares, compared to its average volume of 8,787,098. The stock has a market capitalization of $721.26 million, a P/E ratio of 3.47, a P/E/G ratio of 1.35 and a beta of 2.99. The stock has a 50-day moving average price of $2.12. AK Steel Holding Co. has a fifty-two week low of $1.66 and a fifty-two week high of $5.40. The company has a debt-to-equity ratio of 5.25, a quick ratio of 0.78 and a current ratio of 2.05.

AK Steel (NYSE:AKS) last announced its quarterly earnings results on Monday, April 29th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.10. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.75 billion. AK Steel had a return on equity of 61.44% and a net margin of 2.23%. AK Steel’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 EPS. Research analysts expect that AK Steel Holding Co. will post 0.34 earnings per share for the current fiscal year.

A number of brokerages have issued reports on AKS. Goldman Sachs Group upgraded to a “buy” rating and set a GBX 1,180 ($15.42) price target on the stock in a research report on Tuesday, June 4th. Credit Suisse Group upgraded Vipshop from an “underperform” rating to a “neutral” rating in a research report on Thursday, May 23rd. Deutsche Bank set a $18.00 price target on Commercial Metals and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, Bank of America set a $77.00 price target on Zscaler and gave the stock a “neutral” rating in a research report on Friday, May 31st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $2.69.

AK Steel Company Profile

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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