Jul 01, 2011 (SmarTrend(R) News Watch via COMTEX) -- Below are the five companies in the Steel industry with the lowest Earnings Yields. Earnings yield is useful to compare the relative benefit of owning a stock vs. owning other yield assets such as bonds. If the earnings yield is higher, stocks may be considered undervalued.

AM Castle (NYSE:CAS - Snapshot Report) has the lowest with an Earnings Yield of 0.42%; Allegheny Technologies (NYSE:ATI - Analyst Report) is next with an Earnings Yield of 2.02%; and Nucor (NYSE:NUE - Analyst Report) has the next lowest with an Earnings Yield of 2.04%.

China Precision Steel (NASDAQ:CPSL - Snapshot Report) follows with an Earnings Yield of 2.06% and Carpenter Technology (NYSE:CRS - Snapshot Report) rounds out the group with an Earnings Yield of 2.22%.

SmarTrend currently has shares of China Precision Steel in an Downtrend and issued the Downtrend alert on February 24, 2011 at $1.64. The stock has fallen 40.7% since the Downtrend alert was issued.