Amalgamated Bank Boosts Stake in AK Steel Holding Corporation (AKS)

Amalgamated Bank grew its position in AK Steel Holding Corporation (NYSE:AKS) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,107 shares of the basic materials company’s stock after purchasing an additional 901 shares during the quarter. Amalgamated Bank’s holdings in AK Steel Holding Corporation were worth $283,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. First Trust Advisors LP grew its position in shares of AK Steel Holding Corporation by 56.9% in the second quarter. First Trust Advisors LP now owns 377,889 shares of the basic materials company’s stock valued at $2,483,000 after purchasing an additional 137,078 shares during the last quarter. Cornerstone Financial Partners LLC acquired a new stake in AK Steel Holding Corporation during the second quarter worth approximately $154,000. Vanguard Group Inc. grew its position 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 buying an additional 2,308,220 shares in the last quarter. Royce & Associates LP grew its position in AK Steel Holding Corporation by 9.0% during the second quarter. Royce & Associates LP now owns 1,841,109 shares of the basic materials company’s stock worth $12,096,000 after buying an additional 152,500 shares in the last quarter. Finally, Boston Advisors LLC grew its position in AK Steel Holding Corporation by 11.6% during the second quarter. Boston Advisors LLC now owns 598,670 shares of the basic materials company’s stock worth $3,933,000 after buying an additional 62,070 shares in the last quarter. 73.06% of the stock is currently owned by institutional investors.

AK Steel Holding Corporation (NYSE:AKS) opened at 5.43 on Thursday. The company’s 50-day moving average price is $5.58 and its 200 day moving average price is $6.01. AK Steel Holding Corporation has a 12 month low of $4.47 and a 12 month high of $11.39. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 14.21 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 (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the business posted $0.08 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. Analysts forecast that AK Steel Holding Corporation will post $0.51 EPS for the current fiscal year.

A number of equities research analysts recently issued reports on the company. Clarkson Capital raised AK Steel Holding Corporation from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 26th. Jefferies Group LLC reissued a “buy” rating and set a $9.00 price target on shares of AK Steel Holding Corporation in a research report on Wednesday, June 28th. Longbow Research downgraded AK Steel Holding Corporation from a “buy” rating to a “neutral” rating and increased their price target for the stock from $6.20 to $6.24 in a research report on Thursday, July 27th. KeyCorp reissued a “hold” rating on shares of AK Steel Holding Corporation in a research report on Tuesday, September 19th. Finally, 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 price target on the stock. Ten analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $8.28.

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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.

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

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