Prudential Financial Inc. reduced its holdings in AK Steel Holding Corporation (NYSE:AKS) by 1.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 530,559 shares of the basic materials company’s stock after selling 8,760 shares during the period. Prudential Financial Inc. owned approximately 0.17% of AK Steel Holding Corporation worth $3,486,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of AKS. Stifel Financial Corp purchased a new position in shares of AK Steel Holding Corporation in the 1st quarter worth $110,000. Meadow Creek Investment Management LLC grew its stake in shares of 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 worth $115,000 after buying an additional 2,044 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of 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 worth $116,000 after buying an additional 4,573 shares in the last quarter. World Asset Management Inc grew its stake in shares of 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 worth $134,000 after buying an additional 502 shares in the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of AK Steel Holding Corporation in the 1st quarter worth $135,000. 72.86% of the stock is owned by institutional investors and hedge funds.

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Shares of AK Steel Holding Corporation (AKS) opened at 5.22 on Friday. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 13.66 and a beta of 2.87. The company’s 50-day moving average is $5.49 and its 200-day moving average is $6.27. AK Steel Holding Corporation has a one year low of $4.38 and a one year high of $11.39.

AK Steel Holding Corporation (NYSE:AKS) last announced 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 company 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%. AK Steel Holding Corporation’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 earnings per share. On average, equities analysts predict that AK Steel Holding Corporation will post $0.53 EPS for the current year.

A number of equities analysts have commented on AKS shares. Longbow Research raised shares of AK Steel Holding Corporation from a “neutral” rating to a “buy” rating in a research note on Monday, June 19th. Deutsche Bank AG raised shares of AK Steel Holding Corporation from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Friday, June 23rd. Jefferies Group LLC reissued a “buy” rating and issued a $9.00 price objective on shares of AK Steel Holding Corporation in a research note on Wednesday, June 28th. Zacks Investment Research cut shares of AK Steel Holding Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, ValuEngine cut shares of AK Steel Holding Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Ten investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $8.46.

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.

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

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