Capstone Asset Management Co. lowered its position in AK Steel Holding Corporation (NYSE:AKS) by 9.7% during the second quarter, Holdings Channel reports. The fund owned 50,778 shares of the basic materials company’s stock after selling 5,460 shares during the period. Capstone Asset Management Co.’s holdings in AK Steel Holding Corporation were worth $334,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Stifel Financial Corp acquired a new stake in shares of AK Steel Holding Corporation during the first quarter worth $110,000. Meadow Creek Investment Management LLC boosted its stake in shares of AK Steel Holding Corporation by 14.6% in the first quarter. Meadow Creek Investment Management LLC now owns 16,016 shares of the basic materials company’s stock worth $115,000 after buying an additional 2,044 shares during the last quarter. Concert Wealth Management Inc. boosted its stake in shares of AK Steel Holding Corporation by 12.2% in the first quarter. 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. Wedbush Securities Inc. acquired a new stake in shares of AK Steel Holding Corporation during the first quarter worth $128,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of AK Steel Holding Corporation during the first quarter worth $135,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.

AK Steel Holding Corporation (NYSE AKS) traded down 4.32% during midday trading on Friday, reaching $5.10. 10,329,602 shares of the company’s stock were exchanged. AK Steel Holding Corporation has a 1-year low of $3.87 and a 1-year high of $11.39. The firm’s 50-day moving average is $6.11 and its 200 day moving average is $6.86. The stock has a market cap of $1.61 billion, a P/E ratio of 13.35 and a beta of 2.86.

AK Steel Holding Corporation (NYSE:AKS) last released its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.06. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.55 billion. AK Steel Holding Corporation had a net margin of 1.88% and a return on equity of 735.25%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. Equities analysts anticipate that AK Steel Holding Corporation will post $0.51 earnings per share for the current fiscal year.

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A number of brokerages recently weighed in on AKS. Barclays PLC restated an “equal weight” rating and set a $7.00 target price (down from $8.00) on shares of AK Steel Holding Corporation in a report on Wednesday. Clarkson Capital upgraded shares of AK Steel Holding Corporation from a “neutral” rating to a “buy” rating in a report on Wednesday, July 26th. Longbow Research cut shares of AK Steel Holding Corporation from a “buy” rating to a “neutral” rating and raised their target price for the stock from $6.20 to $6.24 in a report on Thursday, July 27th. BMO Capital Markets set a $7.00 target price on shares of AK Steel Holding Corporation and gave the stock a “hold” rating in a report on Sunday, July 30th. Finally, Jefferies Group LLC restated a “buy” rating on shares of AK Steel Holding Corporation in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $8.06.

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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Institutional Ownership by Quarter for AK Steel Holding Corporation (NYSE:AKS)

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