Harvey Partners LLC bought a new stake in AK Steel Holding Co. (NYSE:AKS) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 220,000 shares of the basic materials company’s stock, valued at approximately $1,230,000. AK Steel makes up about 1.4% of Harvey Partners LLC’s investment portfolio, making the stock its 21st biggest position. Harvey Partners LLC owned about 0.07% of AK Steel as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in AKS. Archford Capital Strategies LLC boosted its holdings in shares of AK Steel by 12,352.2% during the 2nd quarter. Archford Capital Strategies LLC now owns 14,320 shares of the basic materials company’s stock valued at $1,909,000 after buying an additional 14,205 shares in the last quarter. Riverhead Capital Management LLC increased its position in shares of AK Steel by 74.4% during the 2nd 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 during the last quarter. Alps Advisors Inc. increased its position in shares of AK Steel by 35.0% during the 2nd 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 during the last quarter. World Asset Management Inc increased its position in shares of AK Steel by 2.5% during the 2nd 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 during the last quarter. Finally, MML Investors Services LLC purchased a new stake in shares of AK Steel during the 2nd quarter valued at about $141,000. 65.14% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on the company. J P Morgan Chase & Co upgraded AK Steel from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $6.00 to $7.00 in a research note on Thursday. Longbow Research restated a “neutral” rating on shares of AK Steel in a research note on Tuesday, October 3rd. KeyCorp restated a “hold” rating on shares of AK Steel in a research note on Tuesday, September 19th. Credit Suisse Group raised AK Steel from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $6.00 to $7.00 in a research report on Tuesday, November 21st. Finally, Macquarie began coverage on AK Steel in a research report on Wednesday, September 6th. They set an “outperform” rating and a $7.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $7.46.

AK Steel Holding Co. (NYSE:AKS) opened at $5.18 on Friday. The company has a current ratio of 1.92, a quick ratio of 0.75 and a debt-to-equity ratio of 11.89. The stock has a market capitalization of $1,583.84, a P/E ratio of 7.74, a PEG ratio of 4.05 and a beta of 2.89. AK Steel Holding Co. has a 52-week low of $4.00 and a 52-week high of $11.39.

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AK Steel 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 (NYSE:AKS)

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