AK Steel Holding Corporation (AKS) Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP trimmed its position in shares of AK Steel Holding Corporation (NYSE:AKS) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,203,670 shares of the basic materials company’s stock after selling 6,068 shares during the quarter. Systematic Financial Management LP owned approximately 0.38% of AK Steel Holding Corporation worth $7,908,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Amalgamated Bank grew its stake in AK Steel Holding Corporation by 0.3% during the first quarter. Amalgamated Bank now owns 42,206 shares of the basic materials company’s stock worth $303,000 after buying an additional 120 shares during the last quarter. World Asset Management Inc grew its stake in AK Steel Holding Corporation by 1.4% during the first quarter. World Asset Management Inc now owns 19,969 shares of the basic materials company’s stock worth $144,000 after buying an additional 283 shares during the last quarter. Shikiar Asset Management Inc. grew its stake in AK Steel Holding Corporation by 2.5% during the second quarter. Shikiar Asset Management Inc. now owns 62,500 shares of the basic materials company’s stock worth $411,000 after buying an additional 1,500 shares during the last quarter. Concert Wealth Management Inc. grew its stake in AK Steel Holding Corporation by 12.2% during 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. Finally, Texas Permanent School Fund grew its stake in AK Steel Holding Corporation by 0.8% during the second quarter. Texas Permanent School Fund now owns 229,829 shares of the basic materials company’s stock worth $1,510,000 after buying an additional 1,920 shares during the last quarter. 72.86% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have weighed in on AKS. Barclays PLC reaffirmed an “equal weight” rating and set a $7.00 price objective (down from $8.00) on shares of AK Steel Holding Corporation in a research note on Wednesday, August 9th. Clarkson Capital raised shares of AK Steel Holding Corporation from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 26th. ValuEngine raised shares of AK Steel Holding Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 22nd. BMO Capital Markets set a $7.00 price objective on shares of AK Steel Holding Corporation and gave the stock a “hold” rating in a research note on Sunday, July 30th. Finally, Longbow Research cut shares of AK Steel Holding Corporation from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $6.20 to $6.24 in a research note on Thursday, July 27th. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $8.46.

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AK Steel Holding Corporation (NYSE:AKS) opened at 5.87 on Monday. AK Steel Holding Corporation has a one year low of $3.87 and a one year high of $11.39. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 15.37 and a beta of 2.87. The company has a 50-day moving average of $5.57 and a 200 day moving average of $6.44.

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

AK Steel Holding Corporation Company 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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