Peregrine Capital Management LLC Purchases 11,353 Shares of AK Steel Holding Corporation (AKS)

Peregrine Capital Management LLC boosted its stake in AK Steel Holding Corporation (NYSE:AKS) by 2.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 567,301 shares of the basic materials company’s stock after buying an additional 11,353 shares during the period. Peregrine Capital Management LLC owned approximately 0.18% of AK Steel Holding Corporation worth $3,727,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AKS. Stifel Financial Corp purchased a new stake in AK Steel Holding Corporation during the first quarter valued at $110,000. Meadow Creek Investment Management LLC boosted its position in AK Steel Holding Corporation by 14.6% in the first quarter. Meadow Creek Investment Management LLC now owns 16,016 shares of the basic materials company’s stock worth $115,000 after buying an additional 2,044 shares during the period. Wedbush Securities Inc. bought a new position in AK Steel Holding Corporation during the first quarter worth approximately $128,000. Piedmont Investment Advisors LLC bought a new position in AK Steel Holding Corporation during the first quarter worth approximately $135,000. Finally, Fox Run Management L.L.C. bought a new position in AK Steel Holding Corporation during the second quarter worth approximately $135,000. 77.75% of the stock is owned by institutional investors and hedge funds.

Shares of AK Steel Holding Corporation (NYSE:AKS) traded down 0.19% during mid-day trading on Friday, hitting $5.25. 10,319,234 shares of the stock traded hands. The firm’s 50-day moving average is $5.88 and its 200-day moving average is $6.72. AK Steel Holding Corporation has a 52 week low of $3.87 and a 52 week high of $11.39. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 13.74 and a beta of 2.86.

AK Steel Holding Corporation (NYSE:AKS) last announced its earnings results on Tuesday, July 25th. The basic materials company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.55 billion. AK Steel Holding Corporation had a return on equity of 735.25% and a net margin of 1.88%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 earnings per share. On average, analysts forecast that AK Steel Holding Corporation will post $0.50 earnings per share for the current year.

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