Best Sliver Stocks To Buy For 2016: AK Steel Holding Corp (AKS)
AK Steel Holding Corporation (AK Holding), incorporated on December 20, 1993, 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 Companys operations consist primarily of nine steelmaking and finishing plants and tubular production facilities located in Indiana, Kentucky, Ohio and Pennsylvania. The Companys operations produce flat-rolled value-added 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. In addition, the Companys operations include European trading companies that buy and sell steel and steel products and other materials, AK Coal Resources, Inc. (AK Coal), which controls and is developing metall urgical coal reserves in Pennsylvania, and a 49.9% equity interest in Magnetation LLC (Magnetation), a joint venture that produces iron ore concentrate from previously-mined ore reserves.
The Companys flat-rolled carbon steel products are sold primarily to automotive manufacturers and to customers in the infrastructure and manufacturing market. The infrastructure and manufacturing market includes electrical transmission, heating, ventilation and air conditioning equipment, and appliances. The Company also sells coated, cold-rolled, and hot-rolled carbon steel products to distributors, service centers and converters who may further process these products prior to reselling them. The Company sells its stainless steel products to manufacturers and their suppliers in the automotive industry, to manufacturers of food handling, chemical processing, pollution control, medical and health equipment, and to distributors and service centers.
The Company! sel ls its electrical steel products in the infrastructure and m! anufacturing market. These products are sold primarily to manufacturers of power transmission and distribution transformers, both for new and replacement installation. The principal driver in the demand for new transformers is housing starts, while the demand for replacement transformers is driven more by age and obsolescence. The Company also sells electrical steel products for use in the manufacture of electrical motors and generators.
The Company owns its research building located in Middletown, Ohio. Steelmaking, finishing and tubing operations are conducted at nine facilities located in Indiana, Kentucky, Ohio and Pennsylvania. All of these facilities are owned by the Company, either directly or through wholly-owned subsidiaries.
Ashland Works is located in Ashland, Kentucky, and consists of a blast furnace, basic oxygen furnaces and continuous caster for the production of carbon steel. A coating line at Ashland also helps to complete the finis hing operation of material processed at the Middletown plant.Butler Works is situated in Butler, Pennsylvania, and produces stainless, electrical and carbon steel. Melting takes place in a new, electric arc furnace that feeds an argon-oxygen decarburization unit for the specialty steels. A new ladle metallurgy furnace feeds two double-strand continuous casters. The Butler Works also includes a hot rolling mill, annealing and pickling units and two fully automated tandem cold rolling mills. It also has various intermediate and finishing operations for both stainless and electrical steels.
Coshocton Works is located in Coshocton, Ohio, and consists of a stainless steel finishing plant containing two Sendzimer mills and two Z-high mills for cold reduction, four annealing and pickling lines, nine bell annealing furnaces, four hydrogen annealing furnaces, two bright annealing lines and other processing equipment, including temper rolling, slitting and pack! aging fac! il ities.Mansfield Works is located in Mansfield, Ohio, and pro! duces sta! inless steel. Operations include a melt shop with two electric arc furnaces, an argon-oxygen decarburization unit, a thin-slab continuous caster and a six-stand hot rolling mill.
Middletown Works is located in Middletown, Ohio, and consists of a coke facility, blast furnace, basic oxygen furnaces and continuous caster for the production of carbon steel. Also located at the Middletown site are a hot rolling mill, cold rolling mill, two pickling lines, four annealing facilities, two temper mills and three coating lines for finishing the product.Rockport Works is located near Rockport, Indiana, and consists of a continuous cold rolling mill, a continuous hot-dip galvanizing and galvannealing line, a continuous carbon and stainless steel pickling line, a continuous stainless steel annealing and pickling line, hydrogen annealing facilities and a temper mill.
Zanesville Works is located in Zanesville, Ohio, and consists of a finishing plant for some of th e stainless and electrical steel produced at Butler Works and Mansfield Works and has a Sendzimer cold rolling mill, annealing and pickling lines, high temperature box anneal and other decarburization and coating units.AK Tube LLC (AK Tube), a Company subsidiary, has a plant in Walbridge, Ohio, which operates six electric resistance weld tube mills and a slitter. AK Tube also has a plant in Columbus, Indiana, which operates eight electric resistance weld and two laser weld tube mills.
The Companys operations consist primarily of nine steelmaking and finishing plants and tubular production facilities located in Indiana, Kentucky, Ohio and Pennsylvania. The Company sells its carbon products principally to domestic customers. The Companys electrical and stainless steel products are sold both domestically and internationally. The Company also produces carbon and stainless steel that is finished into welded steel tubing used in the automotive, tr! uck, indu! strial and construction markets.Advisors' Opinion:
- [By Tim Biggam]
Following weak guidance , shares of AK Steel Holding Corporation (NYSE: AKS) are trading down 6.8 percent at $10.07.
Owing to a closure of a Kentucky furnace and lower production, AK Steel said it expects shipments to fall by about three percent in the third quarter from the second quarter to 1.35 million tons, and it expects to report a profit of $0.05 to $0.10 a share, versus previous guidance of $0.26 a share.
- [By Ben Levisohn]
After gaining 5.1% yesterday following a surprisingly strong earnings report, U.S. Steel has dropped 1.1% to $39.62 at 11:09 a.m. today, while AK Steel (AKS) has dropped 1.7% to $7.28 and ArcelorMittal (MT) has fallen 1.8% to $12.73.
source from Top Stocks To Buy For 2015:http://www.topstocksforum.com/best-sliver-stocks-to-buy-for-2016.html