AK Steel Holding Corporation (NYSE:AKS) has advanced by over 7% today amid a growth registered across the largest part of the steel industry. The increase comes amid industry consolidation news that came from China, where two largest steelmakers agreed to merge their listed units. The number of funds from our database long AK Steel Holding Corporation increased to 32 from 17 during the second quarter, while the total value of their holdings surged to $221 million from $81 million and amassed 26.60% of the float at the end of June.
ENSCO PLC (NYSE:ESV)’s stock is trading higher after analysts at Goldman Sachs upgraded the stock to ‘Buy’ from ‘Neutral’, stating that ENSCO is likely to benefit from is presence in Asia-Pacific and Middle East market and that it is trading at 200-300bp discount to peers through 2020. However, the analysts expressed concerns about offshore rig market. Goldman Sachs has a a 12-month price target of $10.50 on the stock. Among the funds we track, 30 funds held $546 million worth of ENSCO’s stock in aggregate at the end of June, having amassed 18.70% of its outstanding stock, compared to 29 investors that held $275 million worth of shares a quarter earlier.