Great West Life Assurance Co. Can Sells 30,045 Shares of AK Steel Holding Co. (AKS)

Great West Life Assurance Co. Can decreased its holdings in AK Steel Holding Co. (NYSE:AKS) by 6.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 429,495 shares of the basic materials company’s stock after selling 30,045 shares during the quarter. Great West Life Assurance Co. Can owned 0.14% of AK Steel worth $2,357,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AKS. Alps Advisors Inc. boosted its stake in shares of AK Steel by 35.0% in the second quarter. Alps Advisors Inc. now owns 17,639 shares of the basic materials company’s stock valued at $116,000 after purchasing an additional 4,573 shares during the period. Riverhead Capital Management LLC boosted its stake in shares of AK Steel by 74.4% in the second quarter. Riverhead Capital Management LLC now owns 17,616 shares of the basic materials company’s stock valued at $116,000 after purchasing an additional 7,516 shares during the period. World Asset Management Inc raised its holdings in AK Steel by 2.5% in the second quarter. World Asset Management Inc now owns 20,471 shares of the basic materials company’s stock valued at $134,000 after acquiring an additional 502 shares in the last quarter. MML Investors Services LLC acquired a new stake in AK Steel in the second quarter valued at approximately $141,000. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in AK Steel by 0.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,887 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 193 shares in the last quarter. 65.31% of the stock is owned by institutional investors and hedge funds.

Shares of AK Steel Holding Co. (AKS) opened at $5.30 on Friday. The company has a current ratio of 1.92, a quick ratio of 0.75 and a debt-to-equity ratio of 11.89. AK Steel Holding Co. has a 1-year low of $4.00 and a 1-year high of $11.28. The firm has a market cap of $1,680.00, a P/E ratio of 8.12, a price-to-earnings-growth ratio of 4.25 and a beta of 2.89.

Several brokerages recently weighed in on AKS. J P Morgan Chase & Co raised shares of AK Steel from a “neutral” rating to an “overweight” rating and raised their target price for the company from $6.00 to $7.00 in a report on Thursday, December 7th. Zacks Investment Research raised shares of AK Steel from a “sell” rating to a “hold” rating in a report on Wednesday, November 22nd. raised shares of AK Steel from a “neutral” rating to an “outperform” rating in a report on Tuesday, November 21st. Credit Suisse Group raised shares of AK Steel from a “neutral” rating to an “outperform” rating and raised their target price for the company from $6.00 to $7.00 in a report on Tuesday, November 21st. Finally, Jefferies Group reaffirmed a “buy” rating on shares of AK Steel in a report on Friday, November 10th. Nine research analysts have rated the stock with a hold rating, eight 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 “Buy” and an average target price of $7.46.

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AK Steel 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 (NYSE:AKS)

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