BlueMountain Capital Management LLC Lowers Position in AK Steel Holding Corporation (AKS)

BlueMountain Capital Management LLC decreased its position in AK Steel Holding Corporation (NYSE:AKS) by 15.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 554,014 shares of the basic materials company’s stock after selling 100,522 shares during the period. BlueMountain Capital Management LLC owned 0.18% of AK Steel Holding Corporation worth $3,640,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of AK Steel Holding Corporation by 52,055.2% in the first quarter. BlackRock Inc. now owns 39,293,178 shares of the basic materials company’s stock valued at $282,518,000 after purchasing an additional 39,217,839 shares during the period. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 2,308,220 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in shares of AK Steel Holding Corporation by 25.6% in the first quarter. TIAA CREF Investment Management LLC now owns 16,463,348 shares of the basic materials company’s stock valued at $118,371,000 after purchasing an additional 3,357,464 shares during the period. State Street Corp boosted its holdings in shares of AK Steel Holding Corporation by 20.3% in the first quarter. State Street Corp now owns 12,737,201 shares of the basic materials company’s stock valued at $91,579,000 after purchasing an additional 2,151,457 shares during the period. Finally, Teachers Advisors LLC boosted its holdings in shares of AK Steel Holding Corporation by 63.5% in the first quarter. Teachers Advisors LLC now owns 8,114,044 shares of the basic materials company’s stock valued at $58,340,000 after purchasing an additional 3,150,282 shares during the period. Hedge funds and other institutional investors own 72.86% of the company’s stock.

AK Steel Holding Corporation (NYSE AKS) opened at 5.56 on Friday. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 14.55 and a beta of 2.87. The company has a 50-day moving average of $5.49 and a 200-day moving average of $6.34. AK Steel Holding Corporation has a 52 week low of $4.22 and a 52 week high of $11.39.

AK Steel Holding Corporation (NYSE:AKS) last issued its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. AK Steel Holding Corporation had a net margin of 1.88% and a return on equity of 735.25%. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the business posted $0.08 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. Analysts anticipate that AK Steel Holding Corporation will post $0.53 earnings per share for the current year.

AKS has been the subject of a number of research reports. Deutsche Bank AG reiterated a “buy” rating and issued a $10.00 price target on shares of AK Steel Holding Corporation in a report on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $9.00 price target on shares of AK Steel Holding Corporation in a report on Wednesday, June 28th. Longbow Research upgraded AK Steel Holding Corporation from a “neutral” rating to a “buy” rating in a report on Monday, June 19th. Clarkson Capital upgraded AK Steel Holding Corporation from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a report on Thursday, May 25th. Finally, ValuEngine lowered AK Steel Holding Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $8.46.

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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.

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

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