Shares of AK Steel Holding Corporation (NYSE:AKS) gapped down prior to trading on Monday . The stock had previously closed at $5.03, but opened at $5.22. AK Steel Holding Corporation shares last traded at $5.29, with a volume of 6,603,108 shares traded.

AKS has been the subject of a number of analyst reports. Bank of America Corporation reaffirmed a “buy” rating and set a $9.00 price objective on shares of AK Steel Holding Corporation in a report on Wednesday, September 6th. Zacks Investment Research raised shares of AK Steel Holding Corporation from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Macquarie initiated coverage on shares of AK Steel Holding Corporation in a report on Wednesday, September 6th. They set an “outperform” rating and a $7.00 price objective for the company. Deutsche Bank AG reaffirmed a “buy” rating and set a $10.00 price objective on shares of AK Steel Holding Corporation in a report on Thursday, July 6th. Finally, ValuEngine downgraded shares of AK Steel Holding Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Ten research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. AK Steel Holding Corporation presently has a consensus rating of “Hold” and a consensus target price of $8.46.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stifel Financial Corp bought a new position in AK Steel Holding Corporation in the 1st quarter valued at approximately $110,000. Meadow Creek Investment Management LLC raised its holdings in AK Steel Holding Corporation by 14.6% in the 1st quarter. Meadow Creek Investment Management LLC now owns 16,016 shares of the basic materials company’s stock valued at $115,000 after buying an additional 2,044 shares during the last quarter. Alps Advisors Inc. raised its holdings in AK Steel Holding Corporation by 35.0% in the 2nd quarter. Alps Advisors Inc. now owns 17,639 shares of the basic materials company’s stock valued at $116,000 after buying an additional 4,573 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in AK Steel Holding Corporation by 74.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 17,616 shares of the basic materials company’s stock valued at $116,000 after buying an additional 7,516 shares during the last quarter. Finally, World Asset Management Inc raised its holdings in AK Steel Holding Corporation by 2.5% in the 2nd quarter. World Asset Management Inc now owns 20,471 shares of the basic materials company’s stock valued at $134,000 after buying an additional 502 shares during the last quarter. Institutional investors and hedge funds own 73.06% of the company’s stock.

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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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