An issue of AK Steel Holding Corp. (NYSE:AKS) bonds rose 1% against their face value during trading on Tuesday. The high-yield issue of debt has a 7.625% coupon and will mature on May 15, 2020. The bonds in the issue are now trading at $95.25 and were trading at $95.75 last week. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its stock price.

A number of brokerages recently commented on AKS. Cowen and Company raised their price objective on shares of AK Steel Holding Corp. from $5.00 to $7.00 and gave the stock a “market perform” rating in a report on Wednesday, July 27th. Jefferies Group raised their price objective on shares of AK Steel Holding Corp. from $5.00 to $5.50 and gave the stock a “hold” rating in a report on Wednesday, July 27th. JPMorgan Chase & Co. raised their price objective on shares of AK Steel Holding Corp. from $6.00 to $8.50 and gave the stock an “overweight” rating in a report on Wednesday, July 27th. Barclays PLC raised their price objective on shares of AK Steel Holding Corp. from $5.00 to $6.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 3rd. Finally, Zacks Investment Research lowered shares of AK Steel Holding Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 16th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. AK Steel Holding Corp. presently has a consensus rating of “Hold” and an average target price of $5.05.

Shares of AK Steel Holding Corp. (NYSE:AKS) opened at 4.30 on Wednesday. The company’s market cap is $1.02 billion. The company’s 50 day moving average is $4.86 and its 200 day moving average is $4.63. AK Steel Holding Corp. has a one year low of $1.64 and a one year high of $7.09.

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AK Steel Holding Corp. (NYSE:AKS) last issued its earnings results on Tuesday, July 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.10. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.53 billion. AK Steel Holding Corp. had a negative net margin of 2.18% and a negative return on equity of 12.89%. AK Steel Holding Corp.’s revenue was down 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.36) earnings per share. On average, equities analysts predict that AK Steel Holding Corp. will post $0.32 earnings per share for the current year.

In related news, Director Vicente Wright sold 27,000 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $6.70, for a total transaction of $180,900.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in AK Steel Holding Corp. by 61.5% in the first quarter. BlackRock Inc. now owns 24,495 shares of the company’s stock worth $101,000 after buying an additional 9,327 shares during the period. SG Americas Securities LLC raised its position in AK Steel Holding Corp. by 18.6% in the second quarter. SG Americas Securities LLC now owns 35,115 shares of the company’s stock worth $164,000 after buying an additional 5,510 shares during the period. Alambic Investment Management L.P. acquired a new position in AK Steel Holding Corp. during the second quarter worth $618,000. Prudential Financial Inc. raised its position in AK Steel Holding Corp. by 4.1% in the first quarter. Prudential Financial Inc. now owns 422,629 shares of the company’s stock worth $1,745,000 after buying an additional 16,600 shares during the period. Finally, Acrospire Investment Management LLC raised its position in AK Steel Holding Corp. by 1,152.6% in the second quarter. Acrospire Investment Management LLC now owns 53,862 shares of the company’s stock worth $251,000 after buying an additional 49,562 shares during the period. 68.71% of the stock is currently owned by hedge funds and other institutional investors.

About AK Steel Holding Corp.

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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