Stock Picker: I'm a Man Of Steel
Where does Mark Parr of KeyBanc Capital Markets see investment opportunity in the stock market? Steel yourself for the answer.
"The (steel) industry has done such a good job this year of getting its stuff in order," he told CNBC. "Inventories are down; the mills are really working aggressively to protect pricing, and, as they've done that, the raw materials side has falllen faster than steel prices have fallen."
This, he says, comes on top of a wave of consolidation that has thinned out the ranks of steelmakers.
Parr recommends these badly-hammered steel stocks:
Nucor, Steel Dynamics, Reliance Steel, Cliffs Natural Resources , and GrafTech International.
Parr's firm owns more than one percent of Nucor, Steel Dynamics, Reliance Steel, Cliffs Natural Resources, and GrafTech International. In addition, Parr's family owns shares of GrafTech International.