The post Best Aluminum Stocks by Chetan Shekar appeared first on Benzinga. Visit Benzinga to get more great content like this.
From commercial aircraft to soda cans, aluminum is a large part of our daily lives. The mass production of aluminum-based products can be attributed to its lightweight nature and durability — making it 1 of the most resourceful metals on the market. Consider diversifying your portfolio by investing in these best aluminum stocks.
Quick Look at the Best Aluminum Stocks:
- Kaiser Aluminum Corp
- Howmet Aerospace Inc.
- Century Aluminum Co
- Aluminum Corporation of China Ltd
- Reliance Steel & Aluminum
Contents
- Quick Look at the Best Aluminum Stocks:
- Overview: Aluminum Stocks
- Best Online Brokers for Aluminum Stock
- Features to Look for in Aluminum Stock
- Pedal to the Metal
- Frequently Answered Questions
Overview: Aluminum Stocks
Aluminum has been extensively used for more than a century. In the 1900s, aluminum was considered a rare metal due to its complex extraction process. Now it has become 1 of the lightest metals manufactured in the market. It’s used in the automotive, construction, packaging, electronics, aerospace and defense industry.
Aluminum is widely-used in the aerospace industry. It’s been essential in the manufacture of domestic aircraft and satellites. Howmet Aerospace (NYSE: HWM) uses aluminum in the engine systems, body structures and wheel systems of its airplanes.
The abundance of aluminum on the earth’s surface and its ability to be alloyed with other metals like copper, silicon, tin and zinc also make it a preferable commodity in the electronics industry. The American firm Alcoa (NYSE: AA) produces more than 20% of the world’s aluminum. According to a recent study, the aluminum alloy market is expected to grow by $150 billion by 2024.
Although aluminum doesn’t have the allure of gold and silver, its production and distribution can easily be tracked. Research construction orders for buildings and manufacturing rates of transport vehicles to get a fair idea of the price movement of aluminum stocks.
Best Online Brokers for Aluminum Stock
Online brokers allow you to easily track and trade penny stocks, stocks, exchange-traded funds (ETFs), mutual funds and foreign exchange. These platforms are equipped with advanced tools to enhance your trading experience. For example, you can customize the price range filter on the stock screener to instantly show you the best stocks under $10.
Take a look at these online brokers to start your investment journey.
Claim Exclusive Offers
get started
securely through Interactive Broker’s
website
Interactive Brokers is a comprehensive trading platform that gives you access to a massive range of securities at affordable prices. You can buy assets from all around the world from the comfort of your home or office with access to over 135 global markets. Options, futures, forex and fund trading are also available, and most traders won’t pay a commission on any purchase or sale.
IBKR is geared primarily toward experienced traders and investors but now with the availability of free trades with IBKR Lite, casual traders can also acclimate to IBKR’s offerings.
Best For
- Access to international markets
- Active traders
- Detailed mobile app that makes trading simple
- Wide range of available account types and tradeable assets
- IB SmartRouting provides significant price improvement vs. industry
- Fractional trading allows investing regardless of share price
- Industry’s lowest margin rates
- Earn more by lending your fuly-paid shares
- Beginner investors might prefer a broker that offers a bit more hand-holding and educational resources
Get 10 Free Shares
securely through Magnifi’s
website
Magnifi is an intelligently designed marketplace that allows investors to access data-backed information about various investment opportunities. The company combines standard brokerage tools with artificial intelligence (AI) to promote financial competence. Magnifi distinguishes itself from the crowd by offering an AI-powered search feature and an AI-powered investment assistant. Magnifi offers a technology-forward platform that aims to promote confident and capable long-term financial investments.
Best For
- Long-term investors
- Individuals interested in personalized assistance
- New investors that are eager to learn how to start investing
- Access to an AI-powered investing assistant with a Magnifi Personal account
- Commission-free investing
- Over 15,000 possible investments
- Available mobile application
- Limited methods of communication with customer service
get started
securely through eTrade’s
website
Boasting one of the best mobile brokerage platforms on the market and a competitive fee structure, Power E*TRADE is a popular platform for options and futures trading, especially among high frequency traders. It boasts intuitive tools and beginner-friendly options for active traders and investors.
Best For
- High frequency traders who execute more than 30 options trades per quarter
- Investors who want to be able to trade via their phone or tablet
- Among the most advanced mobile apps, complete with a customizable dashboard
- Lower fees and margin rates for frequent traders
- Prebuilt portfolios, preset scans and automation tools that are great for passive investors and new investors.
- Fees are higher for less frequent traders
- Forex and international markets are not available
get started
securely through CenterPoint Securities’s
website
CenterPoint Securities is ideal for active traders who demand access to advanced tools and services. While investors and casual traders are likely to be content with the basic offerings of traditional online brokerages, active traders will benefit from CenterPoint’s suite of advanced trading tools. If you value execution quality, access to short inventory, advanced trading platforms, and accessible customer service, CenterPoint is an excellent choice.
Best For
- Intermediate to Advanced traders
- High-volume traders
- Momentum traders
- Short sellers
- Unrivaled access to short inventory
- Flexible order routing for improved executions
- Discounts for active traders
- Advanced platform with fast executions
- Reliable customer service
- Not designed for beginner or low-volume traders
get started
securely through Webull’s
website
Webull, founded in 2017, is a mobile app-based brokerage that features commission-free stock and exchange-traded fund (ETF) trading. It’s regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Webull offers active traders technical indicators, economic calendars, ratings from research agencies, margin trading and short-selling. Webull’s trading platform is designed for intermediate and experienced traders, although beginning traders can also benefit.
Webull is widely considered one of the best Robinhood alternatives.
Best For
- Active traders
- Intermediate traders
- Advanced traders
- No account maintenance fees or software platform fees
- No charges to open and maintain an account
- Intuitive trading platform with technical and fundamental analysis tools
- Does not support trading in mutual funds, bonds or OTC stocks
get started
securely through TD Ameritrade’s
website
This publicly listed discount broker, which is in existence for over four decades, is service-intensive, offering intuitive and powerful investment tools. Especially, with equity investing, a flat fee is charged, with the firm claiming that it charges no trade minimum, no data fees, and no platform fees. Though it is pricier than many other discount brokers, what tilts the scales in its favor is its well-rounded service offerings and the quality and value it offers its clients.
Best For
- Novice investors
- Retirement savers
- Day traders
- World-class trading platforms
- Detailed research reports and Education Center
- Assets ranging from stocks and ETFs to derivatives like futures and options
- Thinkorswim can be overwhelming to inexperienced traders
- Derivatives trading more costly than some competitors
- Expensive margin rates
get started
securely through Robinhood’s
website
Robinhood is a broker designed for traders who want a simple and easy-to-use platform. It takes out all the bells and whistles that can be confusing to the modern day trader, serving as the perfect place for beginners to learn the markets. The interface is intuitive and easy to master, streamlined to ensure you don’t get distracted as you build a portfolio. Though advanced traders might like more thorough analysis tools, Robinhood gives you everything you need to start trading and learn the ropes.
Best For
- Beginner traders
- Mobile traders
- Streamlined, easy-to-understand interface
- Mobile app with full capabilities
- Can buy and sell cryptocurrency
- Fewer analysis tools than most
Features to Look for in Aluminum Stock
- Positive earnings per share: Aluminum stocks in good financial health should have positive earnings per share (EPS). You can calculate the EPS of a company by dividing its net income by its total number of outstanding shares.
- Low price-earnings ratios: You can compare the value of similar aluminum stocks in the market by their price-earnings ratio (P/E) ratio.
- Regular dividend yields: Many aluminum stocks pay dividends to shareholders. These dividends are issued in cash or equity per quarter or annually. If a company fails to pay dividends, it may indicate that it is running under loss.
Pedal to the Metal
Aluminum is widely used to make the fastest bicycles, boats, trucks and airplanes. Invest in aluminum stocks to accelerate the growth of your portfolio and earn rich dividends as a reward.
Frequently Answered Questions
What are aluminum stocks?
Aluminum stocks are shares in companies related to the aluminum industry.
Answer Link
Are aluminum stocks a good investment?
Aluminum is used in many consumer goods making the stocks a good investment.
Answer Link
What are the best aluminum stocks?
You can find a list of the best aluminum stocks above.
Answer Link
The post Best Aluminum Stocks by Chetan Shekar appeared first on Benzinga. Visit Benzinga to get more great content like this.
