Truepoint Lowers stake in AK Steel Holding Corporation (AKS)

AK Steel Holding Corporation (AKS) : Truepoint reduced its stake in AK Steel Holding Corporation by 1.17% during the most recent quarter end. The investment management company now holds a total of 227,673 shares of AK Steel Holding Corporation which is valued at $1,416,126 after selling 2,700 shares in AK Steel Holding Corporation , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.AK Steel Holding Corporation makes up approximately 0.17% of Truepoint’s portfolio.

Other Hedge Funds, Including , Great West Life Assurance Co Can boosted its stake in AKS in the latest quarter, The investment management firm added 301,163 additional shares and now holds a total of 313,240 shares of AK Steel Holding Corporation which is valued at $1,948,353. AK Steel Holding Corporation makes up approx 0.01% of Great West Life Assurance Co Can’s portfolio. Strs Ohio added AKS to its portfolio by purchasing 19,500 company shares during the most recent quarter which is valued at $130,650.Blb&b Advisors boosted its stake in AKS in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 15,382 shares of AK Steel Holding Corporation which is valued at $83,063. AK Steel Holding Corporation makes up approx 0.02% of Blb&b Advisors’s portfolio.

AK Steel Holding Corporation closed down -0.12 points or -1.95% at $6.04 with 85,95,351 shares getting traded on Monday. Post opening the session at $6.2, the shares hit an intraday low of $6.02 and an intraday high of $6.23 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, AK Steel Holding Corporation reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.00. The company had revenue of $1492.20 million for the quarter, compared to analysts expectations of $1535.67 million. The company’s revenue was down -11.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.36 EPS.

Many Wall Street Analysts have commented on AK Steel Holding Corporation. Company shares were Reiterated by Cowen on Jul 27, 2016 to “Market Perform”, Firm has raised the Price Target to $ 7 from a previous price target of $5 .AK Steel Holding Corporation was Upgraded by Credit Suisse to ” Outperform” on Jun 8, 2016.

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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