Clinton Group Inc. Acquires 112,531 Shares of AK Steel Holding Corporation (AKS)

Clinton Group Inc. raised its position in AK Steel Holding Corporation (NYSE:AKS) by 117.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 208,318 shares of the company’s stock after buying an additional 112,531 shares during the period. Clinton Group Inc. owned 0.09% of AK Steel Holding Corporation worth $1,006,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Two Sigma Securities LLC boosted its position in shares of AK Steel Holding Corporation by 330.8% in the third quarter. Two Sigma Securities LLC now owns 45,877 shares of the company’s stock worth $222,000 after buying an additional 35,227 shares during the last quarter. AMP Capital Investors Ltd acquired a new position in shares of AK Steel Holding Corporation during the third quarter worth approximately $1,100,000. Convergence Investment Partners LLC acquired a new position in shares of AK Steel Holding Corporation during the third quarter worth approximately $1,586,000. Acrospire Investment Management LLC boosted its position in shares of AK Steel Holding Corporation by 27.4% in the third quarter. Acrospire Investment Management LLC now owns 68,630 shares of the company’s stock worth $331,000 after buying an additional 14,768 shares during the last quarter. Finally, Globeflex Capital L P acquired a new position in shares of AK Steel Holding Corporation during the third quarter worth approximately $355,000. 60.05% of the stock is owned by institutional investors and hedge funds.

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

Shares of AK Steel Holding Corporation (NYSE:AKS) traded down 3.12% on Friday, hitting $8.39. 25,318,648 shares of the stock were exchanged. AK Steel Holding Corporation has a 52-week low of $2.27 and a 52-week high of $11.39. The company’s 50 day moving average is $9.40 and its 200-day moving average is $7.04. The stock’s market cap is $2.64 billion.

AK Steel Holding Corporation (NYSE:AKS) last announced its earnings results on Tuesday, January 24th. The company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.16. The company earned $1.42 billion during the quarter, compared to analyst estimates of $1.42 billion. AK Steel Holding Corporation had a negative net margin of 0.13% and a negative return on equity of 47.34%. AK Steel Holding Corporation’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. Analysts predict that AK Steel Holding Corporation will post $0.73 EPS for the current fiscal year.

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A number of equities analysts have commented on the stock. Vetr cut shares of AK Steel Holding Corporation from a “hold” rating to a “sell” rating and set a $8.17 price objective for the company. in a research note on Thursday. JPMorgan Chase & Co. cut shares of AK Steel Holding Corporation from an “overweight” rating to a “neutral” rating and set a $8.00 price objective for the company. in a research note on Wednesday, January 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a $11.50 price target on shares of AK Steel Holding Corporation in a research note on Wednesday, January 25th. Citigroup Inc. cut shares of AK Steel Holding Corporation from a “neutral” rating to a “sell” rating and set a $8.00 price target for the company. in a research note on Thursday, January 19th. Finally, Credit Suisse Group AG cut shares of AK Steel Holding Corporation from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $8.00 to $9.50 in a research note on Thursday, January 12th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $7.62.

About AK Steel Holding Corporation

AK Steel Holding Corporation is an integrated producer of flat-rolled carbon, stainless and electrical steels and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company operates approximately eight steelmaking and finishing plants, over two coke plants and approximately two tube manufacturing plants across states, which include Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia.

5 Day Chart for NYSE:AKS

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