AK Steel Holding Corporation (AKS) Shares Bought by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. raised its stake in AK Steel Holding Corporation (NYSE:AKS) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,500 shares of the basic materials company’s stock after buying an additional 1,500 shares during the period. Shikiar Asset Management Inc.’s holdings in AK Steel Holding Corporation were worth $411,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Financial Partners LLC acquired a new position in shares of AK Steel Holding Corporation during the second quarter valued at $154,000. Vanguard Group Inc. increased its position in shares of AK Steel Holding Corporation by 6.6% in the first quarter. Vanguard Group Inc. now owns 37,074,630 shares of the basic materials company’s stock valued at $266,566,000 after buying an additional 2,308,220 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of AK Steel Holding Corporation during the first quarter valued at $3,242,000. James Investment Research Inc. acquired a new position in shares of AK Steel Holding Corporation during the first quarter valued at $2,006,000. Finally, Boston Advisors LLC increased its position in shares of AK Steel Holding Corporation by 11.6% in the second quarter. Boston Advisors LLC now owns 598,670 shares of the basic materials company’s stock valued at $3,933,000 after buying an additional 62,070 shares during the period. Hedge funds and other institutional investors own 77.75% of the company’s stock.

Shares of AK Steel Holding Corporation (NYSE AKS) opened at 5.24 on Wednesday. AK Steel Holding Corporation has a 52 week low of $3.87 and a 52 week high of $11.39. The stock has a market cap of $1.65 billion, a P/E ratio of 13.72 and a beta of 2.86. The stock has a 50 day moving average price of $6.00 and a 200-day moving average price of $6.76.

AK Steel Holding Corporation (NYSE:AKS) last announced its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.06. AK Steel Holding Corporation had a return on equity of 735.25% and a net margin of 1.88%. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the company earned $0.08 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts predict that AK Steel Holding Corporation will post $0.51 EPS for the current fiscal year.

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Several analysts have weighed in on the company. Macquarie upgraded AK Steel Holding Corporation from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $7.30 to $8.10 in a research note on Monday, April 24th. Longbow Research assumed coverage on AK Steel Holding Corporation in a research note on Friday, May 19th. They set a “neutral” rating on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $9.00 price target on shares of AK Steel Holding Corporation in a research note on Friday, April 28th. Deutsche Bank AG reiterated a “buy” rating and set a $10.00 price target on shares of AK Steel Holding Corporation in a research note on Thursday, July 6th. Finally, BMO Capital Markets set a $7.00 price target on AK Steel Holding Corporation and gave the company a “hold” rating in a research note on Sunday, July 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. AK Steel Holding Corporation currently has a consensus rating of “Hold” and an average price target of $8.06.

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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