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
- Hofstra University Unveils "Trigger Warning" For Tonight's Debate | ZeroHedge
- The 2016 Presidential Election Comes Down To Only One Thing... | ZeroHedge
- 2029 Financial Collapse: Lionel Shriver’s Dystopian Outlook on the US | Financial Sense
- Deutsche Bank Contagion: Nord LB, Lufthansa, Korean Air Pull Bond Deals | ZeroHedge
- 'Angry' Davids Vs. 'Complacent' Goliaths: Social Revolution Looms | ZeroHedge
- Ep. 186: Jewel – 10 Lessons I Learned From Jewel | Altucher Confidential
- ECB Board Member Admits Central Bank's Monetary Policy Risks "Tearing Up Social Fabric" | ZeroHedge
The most relevant financial news and articles from the Internets
- The AP fact-checked Monday's debate — here's the... | Business Insider
- The Ford Focus RS was my favorite new track car — but now I like it on the road (F) | Business Insider
- The 17 colleges where business students go on... | Business Insider
- The 18 public colleges where students go on to earn the most money... | Business Insider
- 10 lunches you can pack in less than 5 minutes | Business Insider
- A man who became a millionaire in 10 years shares his best... | Business Insider
- The oil crash is causing Saudi Arabia to cut pay by 20% | Business Insider