Cubist Systematic Strategies LLC increased its position in AK Steel Holding Corporation (NYSE:AKS) by 774.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 161,701 shares of the basic materials company’s stock after buying an additional 143,201 shares during the period. Cubist Systematic Strategies LLC owned about 0.05% of AK Steel Holding Corporation worth $1,062,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp bought a new position in AK Steel Holding Corporation in the 1st quarter worth $110,000. Riverhead Capital Management LLC boosted its holdings in AK Steel Holding Corporation by 74.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 17,616 shares of the basic materials company’s stock worth $116,000 after buying an additional 7,516 shares during the period. Alps Advisors Inc. boosted its holdings in AK Steel Holding Corporation by 35.0% in the 2nd quarter. Alps Advisors Inc. now owns 17,639 shares of the basic materials company’s stock worth $116,000 after buying an additional 4,573 shares during the period. Piedmont Investment Advisors LLC bought a new position in AK Steel Holding Corporation in the 1st quarter worth $135,000. Finally, World Asset Management Inc boosted its holdings in AK Steel Holding Corporation by 2.5% in the 2nd quarter. World Asset Management Inc now owns 20,471 shares of the basic materials company’s stock worth $134,000 after buying an additional 502 shares during the period. 73.06% of the stock is owned by institutional investors.

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AKS has been the subject of several recent analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a $10.00 target price on shares of AK Steel Holding Corporation in a report on Thursday, July 6th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $9.00 target price on shares of AK Steel Holding Corporation in a report on Wednesday, June 28th. Longbow Research raised shares of AK Steel Holding Corporation from a “neutral” rating to a “buy” rating in a report on Monday, June 19th. ValuEngine downgraded shares of AK Steel Holding Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Finally, Clarkson Capital raised shares of AK Steel Holding Corporation from a “neutral” rating to a “buy” rating in a report on Wednesday, July 26th. Ten 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 stock. The company has an average rating of “Hold” and an average target price of $8.28.

Shares of AK Steel Holding Corporation (NYSE:AKS) opened at 5.80 on Friday. AK Steel Holding Corporation has a 12 month low of $4.47 and a 12 month high of $11.39. The stock’s 50 day moving average is $5.61 and its 200 day moving average is $5.99. The stock has a market capitalization of $1.83 billion, a PE ratio of 15.18 and a beta of 2.91.

AK Steel Holding Corporation (NYSE:AKS) last posted its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. AK Steel Holding Corporation had a net margin of 1.88% and a return on equity of 735.25%. AK Steel Holding Corporation’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 earnings per share. Analysts anticipate that AK Steel Holding Corporation will post $0.50 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)

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