Axiom Securities Reiterates Sell Rating for United States Steel Corporation (NYSE:X)

Pauline Gross
August 13, 2017

Thrivent Financial For Lutherans has invested 0.01% in AK Steel Holding Corporation (NYSE:AKS).

A number of research firms have issued reports on AKS. Deutsche Bank AG upgraded shares of United States Steel Corporation from a "hold" rating to a "buy" rating and set a $30.00 target price on the stock in a research note on Friday, June 23rd.

AK Steel Holding Corporation (AKS) now has P/E (Price to Earnings) ratio of 14.23 while the company's industry has 26.63 P/E and the sector P/E is 43.8. Cowen and Company dropped their price objective on Timken Steel Corporation from $28.00 to $23.00 and set an "outperform" rating for the company in a report on Tuesday, April 18th. Jefferies Group LLC upped their price objective on shares of AK Steel Holding Corporation from $9.00 to $11.50 and gave the company a "hold" rating in a research note on Wednesday, April 19th. 1 expert has recommended the share with a sell recommendation, four have published a hold recommendation and 1 has given a buy recommendation to The corporation. the share presently has a consensus recommendation of "Hold" and a consensus price objective of $18.83.

Shares of AK Steel Holding Corporation (AKS) traded down 4.13% during mid-day trading on Friday, reaching $5.11. Concert Wealth Management Inc. now owns 16,600 shares of the basic materials company's stock worth $167,000 after buying an additional 1,800 shares during the last quarter. Shares last traded at $5.11 significantly lower than the 50 day moving average of $6.08 and well below the 200 day moving average of $6.83.

AK Steel Holding Corporation (NYSE:AKS) is on recovery track with 37.73% gain from a 1-year low price of $3.87.

The company is now down from yesterday's close of $5.37. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.55 billion.

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On the currency markets, the pound fell 0.2% against the dollar to $1.2976 and slipped 0.05% against the euro at 1.1055 euros. Housebuilders Persimmon and Barratt Developments were among the biggest gainers of the day, up 1.58% and 1.02% respectively.

Among 18 analysts covering AK Steel Holding Corporation (NYSE:AKS), 6 have Buy rating, 1 Sell and 11 Hold. The business's quarterly revenue was up 21.7% compared to the same quarter previous year. During the same period past year, the business posted ($0.32) EPS. If you are accessing this story on another domain, it was illegally copied and reposted in violation of United States & global copyright & trademark law. The legal version of this piece of content can be read at Shareholders of record on Wednesday, August 9th will be given a $0.05 dividend. Citigroup initiated AK Steel Holding Corporation (NYSE:AKS) on Monday, August 22 with "Neutral" rating. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.86%. United States Steel Corporation's dividend payout ratio is now 125.00%.

Goldman Sachs Group Inc bolstered its stake by buying 5,269,717 shares an increase of 29,203.2% in the quarter. The shares were bought at an average price of $19.94 per share, with a total value of $49,850.00. Morgan Stanley now owns 71,345 shares valued at $513,000. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. The stock was acquired at an average cost of $19.31 per share, for a total transaction of $28,965.00. Following the completion of the acquisition, the director now directly owns 12,377 shares of the company's stock, valued at $238,999.87. The disclosure for this purchase can be found here.

The move comes after 7 months negative chart setup for the $1.62B company.

A number of other large investors also recently modified their holdings of the stock. Previously AK Steel Holding Corp (NYSE:AKS) reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.07 with surprise factor of 58.3%. State Street Corp now owns 5,547,843 shares of the basic materials company's stock valued at $187,574,000 after buying an additional 27,483 shares during the period. World Asset Management Inc boosted its position in shares of AK Steel Holding Corporation by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 6,162,355 shares of the basic materials company's stock valued at $40,489,000 after buying an additional 772,725 shares during the period. The fund purchased 32,062 stocks of the basic materials firms shares valued at roughly $606,000.

Here are a few additional firms who have increased or decreased their stake in (AKS). The value of the investment in Timken Steel Corporation decreased from $4,226,000 to $2,727,000 a change of 35.5% quarter over quarter.

AK Steel Holding Corporation (AKS) has a market capitalization of 1.68 Billion which suggests the company is a huge company further suggesting that the shares of AK Steel Holding Corporation (AKS) are stable and safe compared to the lower market capitalization companies. The company's shares were assimilated at $3.12 per share worth to an investment of some $15,600 on account of Newport Roger K. The Company's divisions include Gabon, Angola, Equatorial Guinea, the United States, and Corporate and other, which includes corporate and activities support.

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