I took a small bite of the AKS apple, invested in more coal, got more Gorilla Glass and bought more of Rupert’s empire.
Today was a big buying day as I bottom fished on a huge down day for the broader market.
AKS Stock Chart Below
I opened a new position AK Steel, Inc. buying just 1/8 of my target allocation. I may buy more at $8 if it gets that low. Today the stock is trading at a new 52 week low. S&P has a 12-month price target of $17 per share as of July 30, 2011. S&P maintans a 4 out of 5 star rating on the stock.
AK Steel Holding Corporation (AK Holding) is a producer of flat-rolled carbon, stainless and electrical steels and tubular products through its wholly owned subsidiary, AK Steel Corporation (AK Steel). AK Holding’s operations consist of seven steelmaking and finishing plants located in Indiana, Kentucky, Ohio (near my office in Middletown, Ohio) and Pennsylvania that produce flat-rolled carbon steels, including coated, cold-rolled and hot-rolled products, and specialty stainless and electrical steels that are sold in hot band, and sheet and strip form.
BTU Stock Chart Below
The Street rates BTU a B+ BUY and Credit Suisse rates the stock outperform with an $80 price target. I added 1/4 of my target allocation in BTU bringing my total to 3/4 of target. More thoughts on BTU
GLW Stock Chart Below
Today’s additional shares brings my target allocation up to 3/4. Here are more thoughts on GLW, yes I love their Gorilla Glass.
NWS Stock Chart Below
Today I bought back the shares for $15.50 that I sold on 7/7/11 for $18 per share. Rupert Murdock has taken allot of bad press, its not over from a publicity standpoint, but as far as operations, the scandal should have little additional financial impact. This stock is a compelling diversified media company play with a huge market niche. (Conservative media). I now have 1/2 of my target allocation on this stock.