AK Steel (AKS) is a leading steel company operating in the U.S. It was incorporated more than a century ago as Armco. AK Steel has adapted to various technological, regulatory, and economic changes over these years. It’s a Fortune 500 company, and the company’s shares trade on the New York Stock Exchange.
In this series, we’ll present AK Steel’s business overview. We’ll discuss the various value drivers for the company and the outlook for its business. We’ll also analyze the surge in AK Steel’s share over the past year.
AK Steel’s major operations
AK Steel is headquartered in West Chester, Ohio, and operates seven steel plants and two tube manufacturing facilities spread across four states. The chart above shows AK Steel’s facilities in the U.S. AK Steel employs around 6,400 people at its various plants.
James L. Wainscott is the company’s chairman, president, and chief executive officer.
AK Steel’s competitors
The steel industry is very competitive. Due to the undifferentiated nature of the product, all steel companies compete against each other for a share of the industry. AK Steel competes with other steel companies like ArcelorMittal (MT), United States Steel Corporation (X), and Steel Dynamics (STLD).
These companies form the investment universe for the SPDR S&P Metals and Mining ETF (XME). AK Steel is the largest holding for XME, accounting for around 5% of the portfolio.
AK Steel is a global leader in producing flat-rolled carbon, stainless, and electrical steel products. We’ll discuss the major products and markets for AK Steel in greater detail in the next part of this series.