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AK Steel's (AKS) Zanesville Works Recognized for Safety

AK Steel Holding Corporation's AKS Zanesville (Ohio) Works has received appreciation from the Ohio Bureau of Workers' Compensation, Division of Safety and Hygiene for excellent safety performance. This is part of a collaborative safety awareness program of the Zanesville-Muskingum County Safety Council and Chamber of Commerce.

The recognition demonstrates AK Steel’s priority for safety. The Zanesville Works received the "100% Award for Safety" for operating without any lost-time injuries or illnesses throughout 2015.  The plant also won a "Special Award for Safety" for operating 5,090,743 hours without a lost-time injury between Apr 21, 2003 and Dec 31, 2015.  

AK Steel is a leading producer of flat-rolled carbon, stainless, electrical steel and tubular products. The company’s adjusted earnings outshone the Zacks Consensus Estimate in the fourth quarter of 2015. However, sales missed expectations and declined year over year owing to lower shipments.

Challenging steel market conditions and lower pricing continued to weigh on the company’s results in the fourth quarter. High levels of unfairly traded imports led to a 6% decline in AK Steel’s average selling price.

Though AK Steel remains exposed to weak steel market fundamentals, it is poised to benefit from the strength in automotive market and higher shipment of steel products to automakers, supported by increased automotive builds. AK Steel witnessed continued momentum in the automotive market in 2015. The business contributed 60% to the company’s revenues last year.

Moreover, AK Steel gained access to highly modernized and upgraded steelmaking equipment and facilities with the Severstal Dearborn plant buyout. The company should also benefit from its strategic investments to procure about half of its iron ore and coal requirements internally.

AK Steel currently has a Zacks Rank #2 (Buy).

Other companies worth considering in the basic materials sector are Companhia Siderurgica Nacional SID, Fortuna Silver Mines Inc. FSM and TimkenSteel Corporation TMST. Each of these stocks holds the same Zacks Rank as AK Steel.

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FORTUNA SILVER (FSM): Free Stock Analysis Report
 
AK STEEL HLDG (AKS): Free Stock Analysis Report
 
CIA SIDERUR-ADR (SID): Free Stock Analysis Report
 
TIMKENSTEEL CP (TMST): Free Stock Analysis Report
 
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