GLG Partners LP lowered its holdings in AK Steel Holding Corporation (NYSE:AKS) by 55.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 148,056 shares of the basic materials company’s stock after selling 185,419 shares during the quarter. GLG Partners LP’s holdings in AK Steel Holding Corporation were worth $973,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AKS. Stifel Financial Corp purchased a new stake in AK Steel Holding Corporation during the first quarter worth approximately $110,000. Alps Advisors Inc. boosted its holdings in AK Steel Holding Corporation by 35.0% in the second quarter. Alps Advisors Inc. now owns 17,639 shares of the basic materials company’s stock valued at $116,000 after purchasing an additional 4,573 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings in AK Steel Holding Corporation by 74.4% in the second quarter. Riverhead Capital Management LLC now owns 17,616 shares of the basic materials company’s stock valued at $116,000 after purchasing an additional 7,516 shares in the last quarter. World Asset Management Inc boosted its holdings in AK Steel Holding Corporation by 2.5% in the second quarter. World Asset Management Inc now owns 20,471 shares of the basic materials company’s stock valued at $134,000 after purchasing an additional 502 shares in the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new position in AK Steel Holding Corporation in the first quarter valued at approximately $135,000. 73.06% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have weighed in on the stock. Deutsche Bank AG reissued a “buy” rating and set a $10.00 price objective on shares of AK Steel Holding Corporation in a report on Thursday, July 6th. Jefferies Group LLC restated a “buy” rating and issued a $9.00 target price on shares of AK Steel Holding Corporation in a report on Wednesday, June 28th. Longbow Research upgraded shares of AK Steel Holding Corporation from a “neutral” rating to a “buy” rating in a report on Monday, June 19th. ValuEngine downgraded shares of AK Steel Holding Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Finally, Clarkson Capital raised shares of AK Steel Holding Corporation from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 26th. Ten equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $8.46.

AK Steel Holding Corporation (NYSE AKS) traded up 0.7282% during mid-day trading on Wednesday, reaching $5.7818. The company’s stock had a trading volume of 1,733,417 shares. The firm has a 50-day moving average of $5.53 and a 200-day moving average of $6.09. AK Steel Holding Corporation has a 52 week low of $4.42 and a 52 week high of $11.39. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 15.1356 and a beta of 2.91.

AK Steel Holding Corporation (NYSE:AKS) last issued its earnings results on Tuesday, July 25th. The basic materials company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.06. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. AK Steel Holding Corporation had a return on equity of 735.25% and a net margin of 1.88%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the company earned $0.08 earnings per share. On average, equities research analysts expect that AK Steel Holding Corporation will post $0.52 earnings per share for the current year.

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AK Steel Holding Corporation Profile

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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