Alliancebernstein L.P. boosted its holdings in AK Steel Holding Corporation (NYSE:AKS) by 35.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 749,007 shares of the basic materials company’s stock after acquiring an additional 194,678 shares during the quarter. Alliancebernstein L.P. owned 0.24% of AK Steel Holding Corporation worth $4,921,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its position in 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 worth $282,518,000 after purchasing an additional 39,217,839 shares in the last quarter. Vanguard Group Inc. lifted its stake in AK Steel Holding Corporation by 6.6% during the first quarter. Vanguard Group Inc. now owns 37,074,630 shares of the basic materials company’s stock worth $266,566,000 after purchasing an additional 2,308,220 shares during the period. State Street Corp lifted its stake in AK Steel Holding Corporation by 20.3% during the first quarter. State Street Corp now owns 12,737,201 shares of the basic materials company’s stock worth $91,579,000 after purchasing an additional 2,151,457 shares during the period. Teachers Advisors LLC lifted its stake in AK Steel Holding Corporation by 63.5% during the first quarter. Teachers Advisors LLC now owns 8,114,044 shares of the basic materials company’s stock worth $58,340,000 after purchasing an additional 3,150,282 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in AK Steel Holding Corporation by 82.5% during the first quarter. Dimensional Fund Advisors LP now owns 5,389,630 shares of the basic materials company’s stock worth $38,751,000 after purchasing an additional 2,436,564 shares during the period. 73.06% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “Alliancebernstein L.P. Has $4.92 Million Position in AK Steel Holding Corporation (AKS)” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another publication, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2017/10/03/alliancebernstein-l-p-has-4-92-million-position-in-ak-steel-holding-corporation-aks.html.

A number of equities analysts have recently issued reports on AKS shares. Deutsche Bank AG reissued a “buy” rating and issued a $10.00 target price on shares of AK Steel Holding Corporation in a report on Thursday, July 6th. Macquarie assumed coverage on AK Steel Holding Corporation in a research report on Wednesday, September 6th. They set an “outperform” rating and a $7.00 target price for the company. Bank of America Corporation reaffirmed a “buy” rating and issued a $9.00 price target on shares of AK Steel Holding Corporation in a research note on Wednesday, September 6th. Jefferies Group LLC reaffirmed a “buy” rating on shares of AK Steel Holding Corporation in a research note on Monday, September 18th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $7.00 price target (down from $8.00) on shares of AK Steel Holding Corporation in a research report on Wednesday, August 9th. Ten analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. AK Steel Holding Corporation presently has a consensus rating of “Hold” and a consensus price target of $8.46.

AK Steel Holding Corporation (AKS) opened at 5.71 on Tuesday. The stock’s 50 day moving average is $5.52 and its 200-day moving average is $6.11. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 14.95 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.

AK Steel Holding Corporation (NYSE:AKS) last posted its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the firm earned $0.08 EPS. AK Steel Holding Corporation’s revenue was up 4.4% on a year-over-year basis. Equities analysts anticipate that AK Steel Holding Corporation will post $0.52 earnings per share for the current fiscal year.

AK Steel Holding Corporation 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)

Receive News & Stock Ratings for AK Steel Holding Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AK Steel Holding Corporation and related stocks with our FREE daily email newsletter.