AK Steel Holding Corporation (AKS) Shares Sold by First Trust Advisors LP

First Trust Advisors LP reduced its stake in AK Steel Holding Corporation (NYSE:AKS) by 10.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 240,811 shares of the basic materials company’s stock after selling 28,769 shares during the period. First Trust Advisors LP owned approximately 0.08% of AK Steel Holding Corporation worth $1,731,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Teachers Advisors LLC boosted its position in AK Steel Holding Corporation by 172.4% in the fourth quarter. Teachers Advisors LLC now owns 4,963,762 shares of the basic materials company’s stock valued at $50,680,000 after buying an additional 3,141,703 shares during the period. FMR LLC purchased a new stake in shares of AK Steel Holding Corporation during the fourth quarter valued at about $49,391,000. Renaissance Technologies LLC raised its stake in shares of AK Steel Holding Corporation by 151.0% in the fourth quarter. Renaissance Technologies LLC now owns 3,750,800 shares of the basic materials company’s stock valued at $38,296,000 after buying an additional 2,256,201 shares in the last quarter. Copper Rock Capital Partners LLC raised its stake in shares of AK Steel Holding Corporation by 1.7% in the first quarter. Copper Rock Capital Partners LLC now owns 3,220,390 shares of the basic materials company’s stock valued at $23,283,000 after buying an additional 54,567 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of AK Steel Holding Corporation during the fourth quarter valued at about $30,527,000. Institutional investors own 76.65% of the company’s stock.

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

Shares of AK Steel Holding Corporation (AKS) opened at 5.99 on Friday. The stock’s 50 day moving average price is $5.95 and its 200-day moving average price is $7.95. AK Steel Holding Corporation has a 1-year low of $3.87 and a 1-year high of $11.39. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 23.22 and a beta of 2.81.

AK Steel Holding Corporation (NYSE:AKS) last posted its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.04. AK Steel Holding Corporation had a negative return on equity of 235.11% and a net margin of 1.16%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the business earned ($0.08) EPS. AK Steel Holding Corporation’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts forecast that AK Steel Holding Corporation will post $0.61 earnings per share for the current year.

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Several analysts have issued reports on the company. Jefferies Group LLC upped their target price on AK Steel Holding Corporation from $9.00 to $11.50 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Vetr lowered AK Steel Holding Corporation from a “strong-buy” rating to a “buy” rating and set a $8.95 target price for the company. in a research note on Wednesday, March 15th. Cowen and Company reaffirmed a “market perform” rating and issued a $7.00 target price on shares of AK Steel Holding Corporation in a research note on Friday, May 12th. TheStreet raised AK Steel Holding Corporation from a “d+” rating to a “c” rating in a research note on Tuesday, April 25th. Finally, Barclays PLC cut their target price on AK Steel Holding Corporation from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday, May 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $8.05.

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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