Simplex Trading buys $483,687 stake in AK Steel Holding Corporation (AKS)

AK Steel Holding Corporation (AKS) : Simplex Trading scooped up 40,371 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 Oct 7, 2016. The investment management firm now holds a total of 103,352 shares of AK Steel Holding Corporation which is valued at $483,687.AK Steel Holding Corporation makes up approximately 0.06% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in AKS by selling 25,667 shares or 21.22% in the most recent quarter. The Hedge Fund company now holds 95,262 shares of AKS which is valued at $442,016.

AK Steel Holding Corporation opened for trading at $4.69 and hit $4.745 on the upside on Friday, eventually ending the session at $4.68, with a gain of 1.52% or 0.07 points. The heightened volatility saw the trading volume jump to 1,91,68,595 shares. Company has a market cap of $1,115 M.

On the company’s financial health, AK Steel Holding Corporation reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 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. AK Steel Holding Corporation was Upgraded by KeyBanc Capital Mkts to ” Sector Weight” on Sep 19, 2016. Citigroup Initiated AK Steel Holding Corporation on Aug 22, 2016 to “Neutral”, Price Target of the shares are set at $5.40.Rosenblatt Initiated AK Steel Holding Corporation on Aug 22, 2016 to “Buy”, Price Target of the shares are set at $6.

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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