AK Steel Holding Corporation (AKS) Receives “Hold” Rating from BMO Capital Markets

BMO Capital Markets reissued their hold rating on shares of AK Steel Holding Corporation (NYSE:AKS) in a research report released on Thursday morning.

AKS has been the topic of a number of other reports. Deutsche Bank AG reissued a buy rating and issued a $10.00 price target on shares of AK Steel Holding Corporation in a research report on Thursday, July 6th. 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 on shares of AK Steel Holding Corporation in a research report on Thursday, July 27th. ValuEngine cut AK Steel Holding Corporation from a strong-buy rating to a buy rating in a research report on Thursday, July 27th. Finally, Bank of America Corporation reissued a buy rating and issued a $9.00 price target on shares of AK Steel Holding Corporation in a research report on Wednesday, September 6th. Eleven analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and an average target price of $7.71.

AK Steel Holding Corporation (NYSE:AKS) traded down $0.13 during trading on Thursday, reaching $4.22. The company’s stock had a trading volume of 22,983,858 shares, compared to its average volume of 20,873,946. The company has a debt-to-equity ratio of 11.89, a quick ratio of 0.81 and a current ratio of 1.92. The firm has a market capitalization of $1,325.76, a P/E ratio of 6.49, a PEG ratio of 1.98 and a beta of 2.93.

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A number of hedge funds and other institutional investors have recently made changes to their positions in AKS. BlackRock Inc. raised its holdings in AK Steel Holding Corporation by 52,055.2% in the 1st quarter. BlackRock Inc. now owns 39,293,178 shares of the basic materials company’s stock worth $282,518,000 after acquiring an additional 39,217,839 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in AK Steel Holding Corporation during the 3rd quarter valued at $81,614,000. Dimensional Fund Advisors LP raised its stake in AK Steel Holding Corporation by 82.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,389,630 shares of the basic materials company’s stock valued at $38,751,000 after buying an additional 2,436,564 shares during the last quarter. Vanguard Group Inc. raised its stake in AK Steel Holding Corporation by 6.6% during the 1st 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 last quarter. Finally, State Street Corp raised its stake in AK Steel Holding Corporation by 20.3% during the 1st quarter. State Street Corp now owns 12,737,201 shares of the basic materials company’s stock valued at $91,579,000 after buying an additional 2,151,457 shares during the last quarter. Institutional investors own 70.70% of the company’s stock.

About AK Steel Holding Corporation

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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