Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

Luckily, Zacks has developed its own Style Scores system in an effort to find stocks with specific traits. Value investors will be interested in the system's "Value" category. Stocks with both "A" grades in the Value category and high Zacks Ranks are among the strongest value stocks on the market right now.

Acerinox (ANIOY) is a stock many investors are watching right now. ANIOY is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock is trading with P/E ratio of 8.40 right now. For comparison, its industry sports an average P/E of 10.01. Over the past 52 weeks, ANIOY's Forward P/E has been as high as 9.97 and as low as 5.27, with a median of 8.03.

Investors should also recognize that ANIOY has a P/B ratio of 0.91. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 1.14. Within the past 52 weeks, ANIOY's P/B has been as high as 1.07 and as low as 0.82, with a median of 0.94.

Another great Steel - Producers stock you could consider is National Steel (SID), which is a # 2 (Buy) stock with a Value Score of A.

Shares of National Steel are currently trading at a forward earnings multiple of 6.96 and a PEG ratio of 1.13 compared to its industry's P/E and PEG ratios of 10.01 and 0.67, respectively.

Over the last 12 months, SID's P/E has been as high as 20.46, as low as 5.32, with a median of 9.73, and its PEG ratio has been as high as 1.48, as low as 0.33, with a median of 0.48.

National Steel sports a P/B ratio of 0.78 as well; this compares to its industry's price-to-book ratio of 1.14. In the past 52 weeks, SID's P/B has been as high as 1.33, as low as 0.66, with a median of 0.97.

These are just a handful of the figures considered in Acerinox and National Steel's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that ANIOY and SID is an impressive value stock right now.

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