Bank of Montreal Can Acquires 184,813 Shares of AK Steel Holding Corporation (AKS)

Bank of Montreal Can boosted its stake in shares of AK Steel Holding Corporation (NYSE:AKS) by 26.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 893,553 shares of the basic materials company’s stock after buying an additional 184,813 shares during the period. Bank of Montreal Can owned about 0.28% of AK Steel Holding Corporation worth $5,870,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AKS. BlackRock Inc. increased its stake in AK Steel Holding Corporation by 52,055.2% in the first quarter. BlackRock Inc. now owns 39,293,178 shares of the basic materials company’s stock valued at $282,518,000 after buying an additional 39,217,839 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of AK Steel Holding Corporation by 25.6% in the first quarter. TIAA CREF Investment Management LLC now owns 16,463,348 shares of the basic materials company’s stock valued at $118,371,000 after buying an additional 3,357,464 shares during the period. Teachers Advisors LLC increased its stake in shares of AK Steel Holding Corporation by 63.5% in the first quarter. Teachers Advisors LLC now owns 8,114,044 shares of the basic materials company’s stock valued at $58,340,000 after buying an additional 3,150,282 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of AK Steel Holding Corporation by 82.5% in the first 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 period. Finally, Vanguard Group Inc. increased its stake in shares of AK Steel Holding Corporation by 6.6% in the first 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 period. Hedge funds and other institutional investors own 77.75% of the company’s stock.

AK Steel Holding Corporation (AKS) traded down 0.19% during trading on Friday, reaching $5.25. The company had a trading volume of 10,319,234 shares. The company has a 50-day moving average of $5.88 and a 200-day moving average of $6.72. AK Steel Holding Corporation has a 52-week low of $3.87 and a 52-week high of $11.39. The firm has a market capitalization of $1.65 billion, a P/E ratio of 13.74 and a beta of 2.86.

AK Steel Holding Corporation (NYSE:AKS) last announced 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 company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.55 billion. AK Steel Holding Corporation had a net margin of 1.88% and a return on equity of 735.25%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. Analysts expect that AK Steel Holding Corporation will post $0.50 EPS for the current fiscal year.

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A number of research firms have recently commented on AKS. Barclays PLC reiterated an “equal weight” rating and issued a $7.00 price objective (down previously from $8.00) on shares of AK Steel Holding Corporation in a report on Wednesday, August 9th. Clarkson Capital upgraded AK Steel Holding Corporation from a “neutral” rating to a “buy” rating in a report on Wednesday, July 26th. BMO Capital Markets set a $7.00 target price on AK Steel Holding Corporation and gave the company a “hold” rating in a research report on Sunday, July 30th. Longbow Research cut AK Steel Holding Corporation from a “buy” rating to a “neutral” rating and upped their target price for the company from $6.20 to $6.24 in a research report on Thursday, July 27th. Finally, Jefferies Group LLC reissued a “buy” rating on shares of AK Steel Holding Corporation in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $8.06.

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.

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

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