Truepoint buys $797,091 stake in AK Steel Holding Corporation (AKS)

AK Steel Holding Corporation (AKS) : Truepoint scooped up 211,373 additional shares in AK Steel Holding Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 230,373 shares of AK Steel Holding Corporation which is valued at $797,091.AK Steel Holding Corporation makes up approximately 0.10% of Truepoint’s portfolio.

Other Hedge Funds, Including , Royce Associates Lp boosted its stake in AKS in the latest quarter, The investment management firm added 217,000 additional shares and now holds a total of 1,952,609 shares of AK Steel Holding Corporation which is valued at $6.8 Million. AK Steel Holding Corporation makes up approx 0.04% of Royce Associates Lp’s portfolio. Archford Capital Strategies sold out all of its stake in AKS during the most recent quarter. The investment firm sold 115 shares of AKS which is valued $398.Ifp Advisors Inc reduced its stake in AKS by selling 1,985 shares or 5.2% in the most recent quarter. The Hedge Fund company now holds 36,179 shares of AKS which is valued at $147,972. AK Steel Holding Corporation makes up approx 0.01% of Ifp Advisors Inc’s portfolio.

AK Steel Holding Corporation opened for trading at $3.51 and hit $3.67 on the upside on Monday, eventually ending the session at $3.48, with a gain of 0.58% or 0.02 points. The heightened volatility saw the trading volume jump to 96,39,851 shares. Company has a market cap of $621 M.

On the company’s financial health, AK Steel Holding Corporation reported $-0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $-0.11. The company had revenue of $1519.00 million for the quarter, compared to analysts expectations of $1508.29 million. The company’s revenue was down -13.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.28 EPS.

Many Wall Street Analysts have commented on AK Steel Holding Corporation. Company shares were Reiterated by Cowen on Apr 27, 2016 to “Market Perform”, Firm has raised the Price Target to $ 5 from a previous price target of $3 .Company shares were Downgraded by UBS on Apr 8, 2016 to ” Sell”, Firm has raised the Price Target to $ 2.50 from a previous price target of $2 .Company shares were Reiterated by Credit Suisse on Mar 23, 2016 to “Underperform”, Firm has raised the Price Target to $ 3.50 from a previous price target of $2 .

AK Steel Holding Corporation (AK Holding) is an integrated producer of flat-rolled carbon stainless and electrical steels and tubular products through its wholly-owned subsidiary AK Steel Corporation (AK Steel and together with AK Holding the Company). The operations of the Company and its wholly owned subsidiaries consist primarily of eight steelmaking and finishing plants two coke plants and two tube manufacturing plants across six states which include Indiana Kentucky Michigan Ohio Pennsylvania and West Virginia. These operations produce flat-rolled carbon steels including coated cold-rolled and hot-rolled carbon steel products and specialty stainless and electrical steels that are sold in sheet and strip form as well as carbon and stainless steel that is finished into welded steel tubing. These products are sold to the automotive infrastructure and manufacturing and distributors and converters markets.

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