Geode Capital Management LLC cut its stake in shares of AK Steel Holding Corporation (NYSE:AKS) by 14.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,742,267 shares of the basic materials company’s stock after selling 462,765 shares during the period. Geode Capital Management LLC’s holdings in AK Steel Holding Corporation were worth $19,716,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised 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. Thrivent Financial For Lutherans raised its position in shares of AK Steel Holding Corporation by 8.7% in the first quarter. Thrivent Financial For Lutherans now owns 181,110 shares of the basic materials company’s stock valued at $1,302,000 after buying an additional 14,570 shares during the period. Banco BTG Pactual S.A. acquired a new position in shares of AK Steel Holding Corporation during the first quarter valued at about $935,000. Royce & Associates LP raised its position in shares of AK Steel Holding Corporation by 13.1% in the first quarter. Royce & Associates LP now owns 1,688,609 shares of the basic materials company’s stock valued at $12,141,000 after buying an additional 195,000 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position 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 buying an additional 3,357,464 shares during the period. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AK Steel Holding Corporation (AKS) traded down 1.63% on Tuesday, reaching $5.42. The company’s stock had a trading volume of 14,735,012 shares. The stock has a 50-day moving average of $6.20 and a 200 day moving average of $6.98. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 14.19 and a beta of 2.86. AK Steel Holding Corporation has a 52-week low of $3.87 and a 52-week high of $11.39.

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 (EPS) 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 business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the business earned $0.08 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities research analysts forecast that AK Steel Holding Corporation will post $0.49 earnings per share for the current year.

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AKS has been the topic of a number of research reports. Barclays PLC reaffirmed an “equal weight” rating and set a $7.00 target price (down from $8.00) on shares of AK Steel Holding Corporation in a research report on Thursday, August 3rd. Clarkson Capital raised AK Steel Holding Corporation from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 26th. BMO Capital Markets set a $7.00 target price on AK Steel Holding Corporation and gave the stock a “hold” rating in a research report on Sunday, July 30th. Jefferies Group LLC reaffirmed a “buy” rating on shares of AK Steel Holding Corporation in a research report on Thursday, July 27th. Finally, Longbow Research lowered AK Steel Holding Corporation from a “buy” rating to a “neutral” rating and upped their target price for the stock from $6.20 to $6.24 in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price 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.

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

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