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AK Steel Holding Corporation (AKS) Given Neutral Rating at Longbow Research

AK Steel Holding Corporation (NYSE:AKS)‘s stock had its “neutral” rating reissued by investment analysts at Longbow Research in a research note issued on Tuesday.

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Several other equities research analysts also recently issued reports on the company. Clarkson Capital raised AK Steel Holding Corporation from a “neutral” rating to a “buy” rating in a report on Wednesday, July 26th. Jefferies Group LLC reiterated a “buy” rating and issued a $9.00 price objective on shares of AK Steel Holding Corporation in a report on Wednesday, June 28th. KeyCorp reiterated a “hold” rating on shares of AK Steel Holding Corporation in a report on Tuesday, September 19th. Macquarie started coverage on shares of AK Steel Holding Corporation in a research report on Wednesday, September 6th. They issued an “outperform” rating and a $7.00 price objective on the stock. Finally, ValuEngine lowered shares of AK Steel Holding Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. AK Steel Holding Corporation presently has an average rating of “Hold” and a consensus price target of $8.46.

Shares of AK Steel Holding Corporation (AKS) traded up 0.53% during midday trading on Tuesday, hitting $5.74. 10,573,178 shares of the stock traded hands. The company has a market capitalization of $1.81 billion, a PE ratio of 15.03 and a beta of 2.91. AK Steel Holding Corporation has a 12-month low of $4.42 and a 12-month high of $11.39. The firm’s 50 day moving average price is $5.52 and its 200 day moving average price is $6.11.

AK Steel Holding Corporation (NYSE:AKS) last issued its earnings results on Tuesday, July 25th. The basic materials company reported $0.19 EPS 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 the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. Analysts expect that AK Steel Holding Corporation will post $0.52 EPS for the current year.

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Institutional investors have recently bought and sold shares of the business. Amalgamated Bank lifted its position in shares of AK Steel Holding Corporation by 0.3% during the 1st quarter. Amalgamated Bank now owns 42,206 shares of the basic materials company’s stock valued at $303,000 after acquiring an additional 120 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of AK Steel Holding Corporation by 0.9% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 21,887 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 193 shares in the last quarter. World Asset Management Inc grew its holdings in shares of AK Steel Holding Corporation by 1.4% during the 1st quarter. World Asset Management Inc now owns 19,969 shares of the basic materials company’s stock worth $144,000 after purchasing an additional 283 shares in the last quarter. Shikiar Asset Management Inc. grew its holdings in shares of AK Steel Holding Corporation by 2.5% during the 2nd quarter. Shikiar Asset Management Inc. now owns 62,500 shares of the basic materials company’s stock worth $411,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of AK Steel Holding Corporation by 2.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 61,271 shares of the basic materials company’s stock worth $403,000 after purchasing an additional 1,605 shares in the last quarter. Hedge funds and other institutional investors own 73.06% of the company’s stock.

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.