Steel Stocks Deserve a Look (AKS, X, STLD)
AK Steel (AKS) leveled the playing field yesterday after a weak forecast for the entire sector. Its why we want you to consider the best of the industry with U.S. Steel Corp (X) and let a little ride with small time Steel Dynamics (STLD).
After yesterday's sell off on the entire steel sector most of the same stocks are up big today, including Steel Dynamics up 6.7% and U.S. Steel (X) up 5%. All three of the names mentioned pay a dividend while you wait for the steel prices to bounce back. The annual dividend yields are as follows: Steel Dynamics 3.36%, U.S. Steel 1.03%, AK Steel 3.8%.
Best part is all three names are trading under $20, take a gander:
- United States Steel (X) is trading at $19.36 and its shares are 8.73% from its 52-week low.
- AK Steel Holding (AKS) is trading at $5.16 and its shares are 11.05% from its 52-week low.
- Steel Dynamics Inc(STLD) is trading at $11.90 and its shares are 26.22% from its 52-week low.
AK Steel has a 30% short interest which means if this company can improve anything in the slightest it shares are jumping higher over night. However Wall Street has a heavy dose of Hater-Aid applied to the steel sector for the moment. Steel demand and prices are down and expected to decrease in 2012. The best case scenario is dire for these companies, prices should remain flat and they hope demand picks up later in the year. Steel Dynamics and Nucor (NUE) both released Q2 forecasts that were not impressive cited increased domestic supplies and imports pressuring domestic prices.
MASTERY Bottom line:
Steel stocks like AKS, X, and STLD could make a comeback in late 2012. Its best to get to the party early while these stocks are still trading near record lows.
3 STEEL STOCKS TO CONSIDER
Best of the Blogs
Scanning and identifying the best blog entries every hour
- As China Slaps Fees On Bitcoin Trades, Japan Monthly Volumes Soar by 8,900% | ZeroHedge
- A Preview Of Trump's Seven Imminent Executive Orders | ZeroHedge
- Options Traders Are Pricing In The 3rd Highest Chance Of A 'Black Swan' Crash In History | ZeroHedge
- Trump Fires Up Europe's Anti-Establishment Movement | ZeroHedge
- Carl Icahn Praises Trump Speech: "Our Dangerous Slide Towards Socialism Is Over" | ZeroHedge
- Trump Wins The Unions: Teamsters Praise TPP Withdrawal, Labor Chiefs Describe "Incredible" Meeting With Trump | ZeroHedge
- WikiLeaks Slams Trump, Urges Hackers To Reveal His Tax Returns | ZeroHedge
The most relevant financial news and articles from the Internets
- Basic income experts say Trump could be the radical change America needs | Business Insider
- The title of the next 'Star Wars' movie is here: 'The Last Jedi... | Business Insider
- Supply Chain Management: The Next Big Thing? | BusinessWeek
- 11 people at the Women's March on Washington explain why they... | Business Insider
- Atlanta Falcons owner Arthur Blank is paying for every team employee to go to... | Business Insider
- Japanese Prime Minister Shinzo Abe is still pitching... | Business Insider
- Sprint just bought a big stake in Tidal | Business Insider