Palisade Capital Management LLC NJ Has $348,000 Stake in AK Steel Holding Corporation (AKS)

Palisade Capital Management LLC NJ raised its stake in AK Steel Holding Corporation (NYSE:AKS) by 34.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,995 shares of the basic materials company’s stock after buying an additional 13,495 shares during the period. Palisade Capital Management LLC NJ’s holdings in AK Steel Holding Corporation were worth $348,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position 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 last quarter. Cornerstone Financial Partners LLC acquired a new position in shares of AK Steel Holding Corporation during the second quarter valued at $154,000. Hennessy Advisors Inc. acquired a new position in shares of AK Steel Holding Corporation during the first quarter valued at $3,242,000. James Investment Research Inc. acquired a new position in shares of AK Steel Holding Corporation during the first quarter valued at $2,006,000. Finally, Boston Advisors LLC raised its position in shares of AK Steel Holding Corporation by 11.6% in the second quarter. Boston Advisors LLC now owns 598,670 shares of the basic materials company’s stock valued at $3,933,000 after buying an additional 62,070 shares during the last quarter. Institutional investors own 77.43% of the company’s stock.

Shares of AK Steel Holding Corporation (NYSE AKS) opened at 5.37 on Thursday. AK Steel Holding Corporation has a 52 week low of $3.87 and a 52 week high of $11.39. The stock has a 50 day moving average price of $6.13 and a 200 day moving average price of $6.87. The firm has a market capitalization of $1.69 billion, a PE ratio of 14.06 and a beta of 2.86.

AK Steel Holding Corporation (NYSE:AKS) last issued its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.06. AK Steel Holding Corporation had a net margin of 1.88% and a return on equity of 735.25%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the business posted $0.08 EPS. The firm’s revenue was up 4.4% compared to the same quarter last year. Equities analysts forecast that AK Steel Holding Corporation will post $0.49 earnings per share for the current fiscal year.

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Several research analysts recently weighed in on AKS shares. Macquarie upgraded AK Steel Holding Corporation from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $7.30 to $8.10 in a research report on Monday, April 24th. Longbow Research started coverage on AK Steel Holding Corporation in a research report on Friday, May 19th. They issued a “neutral” rating for the company. Jefferies Group LLC reiterated a “buy” rating and issued a $9.00 price objective on shares of AK Steel Holding Corporation in a research report on Friday, April 28th. Deutsche Bank AG reiterated a “buy” rating and issued a $10.00 price objective on shares of AK Steel Holding Corporation in a research report on Thursday, July 6th. Finally, BMO Capital Markets set a $7.00 price objective on AK Steel Holding Corporation and gave the stock a “hold” rating in a research report on Sunday, July 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. AK Steel Holding Corporation presently has an average rating of “Hold” and an average 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.

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

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