Supplemental Annuity Collective Trust of NJ Invests $2.07 Million in AK Steel Holding Corporation (AKS)

Supplemental Annuity Collective Trust of NJ bought a new position in shares of AK Steel Holding Corporation (NYSE:AKS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 370,000 shares of the basic materials company’s stock, valued at approximately $2,068,000. AK Steel Holding Corporation makes up approximately 0.9% of Supplemental Annuity Collective Trust of NJ’s investment portfolio, making the stock its 23rd largest position. Supplemental Annuity Collective Trust of NJ owned about 0.12% of AK Steel Holding Corporation as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AKS. UBS Asset Management Americas Inc. increased its stake in shares of AK Steel Holding Corporation by 1.2% during the first quarter. UBS Asset Management Americas Inc. now owns 523,052 shares of the basic materials company’s stock worth $3,761,000 after purchasing an additional 6,255 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of AK Steel Holding Corporation by 5.1% during the first quarter. Parametric Portfolio Associates LLC now owns 435,873 shares of the basic materials company’s stock worth $3,134,000 after purchasing an additional 21,174 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of AK Steel Holding Corporation during the first quarter worth about $110,000. Alliancebernstein L.P. increased its stake in shares of AK Steel Holding Corporation by 24.6% during the first quarter. Alliancebernstein L.P. now owns 554,329 shares of the basic materials company’s stock worth $3,986,000 after purchasing an additional 109,606 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of 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 in the last quarter. 71.01% of the stock is owned by institutional investors and hedge funds.

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A number of analysts have recently commented on the stock. Zacks Investment Research raised shares of AK Steel Holding Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Deutsche Bank AG reissued a “buy” rating and set a $10.00 target price on shares of AK Steel Holding Corporation in a research note on Thursday, July 6th. Longbow Research lowered shares of AK Steel Holding Corporation from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $6.20 to $6.24 in a research report on Thursday, July 27th. ValuEngine lowered shares of AK Steel Holding Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Finally, Cowen and Company restated a “hold” rating and set a $6.00 price target on shares of AK Steel Holding Corporation in a research report on Tuesday, October 24th. Ten equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $8.21.

AK Steel Holding Corporation (NYSE:AKS) opened at 6.05 on Friday. The firm has a 50-day moving average of $5.69 and a 200 day moving average of $5.92. AK Steel Holding Corporation has a 12-month low of $4.93 and a 12-month high of $11.39. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 15.84 and a beta of 2.91.

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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