AK Steel Holding Corporation (NYSE:AKS) was the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 69,015,598 shares, a growth of 7.2% from the July 31st total of 64,370,556 shares. Based on an average daily volume of 15,539,366 shares, the days-to-cover ratio is presently 4.4 days. Currently, 22.4% of the shares of the stock are sold short.

Shares of AK Steel Holding Corporation (NYSE:AKS) opened at 5.47 on Tuesday. The stock has a 50 day moving average of $5.74 and a 200 day moving average of $6.62. AK Steel Holding Corporation has a 52 week low of $3.87 and a 52 week high of $11.39. The stock has a market cap of $1.72 billion, a P/E ratio of 14.32 and a beta of 2.86.

AK Steel Holding Corporation (NYSE:AKS) last issued its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. AK Steel Holding Corporation had a return on equity of 735.25% and a net margin of 1.88%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the company earned $0.08 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts expect that AK Steel Holding Corporation will post $0.50 earnings per share for the current year.

Several research firms have commented on AKS. ValuEngine upgraded shares of AK Steel Holding Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. Barclays PLC reiterated an “equal weight” rating and set a $7.00 price objective (down previously from $8.00) on shares of AK Steel Holding Corporation in a research report on Wednesday, August 9th. Clarkson Capital upgraded shares of AK Steel Holding Corporation from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 26th. BMO Capital Markets set a $7.00 price objective on shares of AK Steel Holding Corporation and gave the company a “hold” rating in a research report on Sunday, July 30th. Finally, Jefferies Group LLC reiterated a “buy” rating on shares of AK Steel Holding Corporation in a research report on Thursday, July 27th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $8.47.

A number of hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. acquired a new stake in shares of AK Steel Holding Corporation during the fourth quarter worth about $247,000. Louisiana State Employees Retirement System raised its stake in shares of AK Steel Holding Corporation by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 128,200 shares of the basic materials company’s stock worth $922,000 after buying an additional 2,400 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of AK Steel Holding Corporation by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 34,900 shares of the basic materials company’s stock worth $250,000 after buying an additional 930 shares during the last quarter. Glen Harbor Capital Management LLC raised its stake in shares of AK Steel Holding Corporation by 14.6% in the first quarter. Glen Harbor Capital Management LLC now owns 19,448 shares of the basic materials company’s stock worth $140,000 after buying an additional 2,482 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of AK Steel Holding Corporation by 15.2% in the first quarter. Janney Montgomery Scott LLC now owns 100,221 shares of the basic materials company’s stock worth $721,000 after buying an additional 13,237 shares during the last quarter. 72.86% of the stock is currently owned by hedge funds and other institutional investors.

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About AK Steel Holding Corporation

AK Steel Holding Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company also operates blast furnaces and electric arc furnaces. As of December 31, 2016, its operations included eight steelmaking and finishing plants, two coke plants and two tube manufacturing plants across states, including Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia, and a tube manufacturing plant in Mexico.

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