Metal Fabrication
(RS) Reliance Steel-Metals USA Holdings Merger Gets Shareholder OK
Reliance Steel & Aluminum Co.’s (RS) impending acquisition of Metals USA Holdings Corp. (MUSA) has been cleared by the latter’s shareholders. Shareholders...21Apr2013 | vitalstocks | Comments Off | Continued
(X) Keeping U.S. Steel at Neutral
We have retained our Neutral recommendation on U.S. Steel (X). While the company should benefit from expanded cokemaking capabilities and lower raw material costs, a depressed construction market, oversupply in the steel industry and...15Feb2013 | Shawn | Comments Off | Continued
(PCP) Precision Castparts Closes Timet Acquisition
Precision Castparts Corp. (PCP) recently announced that it has completed the acquisition of Titanium Metals Corporation (“Timet”) for $16.50 per share, reflecting a total value of $2.9 billion. The offer price is at a 44% premium...15Jan2013 | Shawn | Comments Off | Continued
(VMI) Valmont Industries – Bull of the Day
We are maintaining our Outperform recommendation on Valmont Industries, Inc. (VMI) following its strong second-quarter 2012 results. Revenues and earnings topped Zacks Consensus Estimates. Profit jumped 31% year over year on healthy...30Aug2012 | vitalstocks | Comments Off | Continued
(X) United States Steel Corporation Beats First Quarter Earnings
United States Steel Corporation (X) came out with positive results in the first quarter of 2012, posting adjusted earnings of 67 cents per share and beating the Zacks Consensus Estimate of 49 cents. However, net loss (as reported)...10May2012 | vitalstocks | Comments Off | Continued
(X) United States Steel Corporation Beats in First Quarter
United States Steel Corporation (X) came out with positive results in the first quarter of 2012, posting adjusted earnings of 67 cents per share and beating the Zacks Consensus Estimate of 49 cents. However, net loss (as reported)...1May2012 | vitalstocks | Comments Off | Continued
(VMI) Valmont Industries – Bull of the Day
We are reaffirming our Outperform recommendation on Valmont Industries (VMI). Fourth quarter earnings of $1.83 per share outpaced the Zacks Consensus Estimate. Revenues increased by double digits, led by significant growth in the Irrigation...21Apr2012 | vitalstocks | Comments Off | Continued
(PCP) Precision Castparts Quarterly Numbers Beat Estimates
Precision Castparts Corp. (PCP) released its second quarter fiscal 2011 earnings results before the market opened today, reporting earnings from continuing operations of $1.70. The earnings reported by the company surpassed its year-ago...7Nov2010 | vitalstocks | 0 comments | Continued
(X) United States Steel Corporation Analyst Reiterates Neutral Rating
We reiterate our Neutral recommendation on United States Steel Corporation (X), the fifth largest steel producer worldwide. U.S. Steel’s operating results have started reflecting the benefits of the gradual economic recovery...15Oct2010 | vitalstocks | 0 comments | Continued
(VMI) Valmont Industries Incorporated – Bear of the Day
We are downgrading Valmont Industries (VMI) to Underperform from Neutral and are also reducing our target price to $63.00 from $91.00 due to the company’s muted second quarter 2010 profitability and poor topline growth. Valmont...30Aug2010 | vitalstocks | 0 comments | Continued
(X) U.S. Steel Earnings Report Falls Far Short
The leading steel manufacturer in the U.S. and the fifth largest in the world, United States Steel Corp. (X), delivered adjusted earnings per share (EPS) of 45 cents in its second quarter ended June 30, 2010, which fell short of the...2Aug2010 | vitalstocks | 0 comments | Continued
(PCP) Precision Castpart’s Quarterly Report Underperforms The Street
Precision Castparts Corp. (PCP) reported earnings per share from continuing operations of $1.66 for the fourth quarter of 2010, below the Zacks Consensus Estimate of $1.71. In the fourth quarter, sales for Precision Castparts...7May2010 | vitalstocks | 0 comments | Continued
(VMI) Valmont Industries Guides Earnings Lower
Valmont Industries Inc. (VMI), a U.S. manufacturer of lighting poles and support structures, is expecting a 20% year-over-year decline in revenues in the first quarter of 2010. The company is expecting revenues of about $365.0 million...7Apr2010 | vitalstocks | 0 comments | Continued
(X) United States Steel Corporation Issues Debt – Maintains BB+ Rating
Ratings agency Fitch Ratings has assigned a “BB+” rating to United States Steel Corporation’s (X) $500 million debt issued recently, reports AP. According to Fitch, “BB+” rated debt is non-investment grade or junk...18Mar2010 | vitalstocks | 0 comments | Continued
(VMI) Valmont Industries May Be Downgraded By Standard & Poor’s Ratings Services
Standard & Poor’s Ratings Services has put Valmont Industries Inc. (VMI), the U.S. maker of lighting poles and support structures, on a negative credit review. The news comes after VMI announced that it has agreed to acquire...8Mar2010 | vitalstocks | 0 comments | Continued
(VMI) Valmont Industries to Acquire Delta Plc
Valmont Industries Inc. (VMI), a U.S. maker of lightning poles and support structures, has agreed to acquire British industrial engineer Delta Plc. for $429.1 million or £284.5 million in cash. The offer represents a premium of 20.3%...5Mar2010 | vitalstocks | 0 comments | Continued
(RS) Reliance Steel & Aluminum Company – Expected Earnings Growth of 96.34%
Reliance Steel & Aluminum Company (RS) recently provided fourth quarter earnings guidance much higher than the Zacks Consensus. Is this a sign that the global recovery is taking hold? Company Description Reliance...10Feb2010 | vitalstocks | 0 comments | Continued
(X) U.S. Steel Corporation’s Ratings Lowered by Fitch Ratings Agency
According to Reuters, Fitch Ratings Agency has downgraded the ratings of U.S. Steel Corporation (X) to junk status on account of a lack of visibility about the company’s return to profitability. Fitch has lowered the steelmaker’s...28Jan2010 | vitalstocks | 0 comments | Continued
(X) United States Steel Corporation Underperforms Expectations
Shares of United States Steel Corporation (X) tumbled more than 9% after the company recorded its fourth consecutive loss of $267 million or $1.86 per share in the fourth quarter of 2009. By contrast, the company had reported a net income...26Jan2010 | vitalstocks | 0 comments | Continued
(X) Steel Output Rises Again
According to the data released by World Steel Association (Worldsteel), global crude steel production for the 66 countries reporting to Worldsteel improved 24.2% year over year to 107.5 million tons in November 2009. Crude steel production has been showing a positive growth rate since September 2008....1Jan2010 | vitalstocks | 0 comments | Continued
(X) World Steel Association Reports Steady Increase in Steel Output
According to the data released by World Steel Association (worldsteel), global crude steel production for the 66 countries reporting to worldsteel improved 13.1% year over year to 112 million tons in October 2009. Following a revision of the September production figures, this is the second month in...7Dec2009 | vitalstocks | 0 comments | Continued
(RS) Reliance Steel & Aluminum Steel Posts Profits
Reliance Steel & Aluminum Co. (RS), the largest metals service company in US, reported net income of $41.8 million, or 57 cents per diluted share for the third quarter of 2009. This was considerably better than the Zacks Consensus...27Oct2009 | vitalstocks | 0 comments | Continued
(X) Losses Narrow for US Steel
Weak volumes and prices drive losses United States Steel Corporation (X) recorded its third sequential loss — $3.03 billion or $2.11 per share in the third quarter of 2009 in contrast to a net income...27Oct2009 | vitalstocks | 0 comments | Continued
(X) Steel Output Mounting
According to the data released by the World Steel Association (WSA), global steel output increased to 107 million tons in the month of Sep 2009, down marginally (0.6%) from the same month of the previous year. Month-on-month, steel output improved slightly from 106.5 million tons. World crude steel...27Oct2009 | vitalstocks | 0 comments | Continued
(PCP) Precision Castparts Posts Weak Numbers
Precision Castparts Corp. (PCP) today reported disappointing results in its fiscal second quarter. Sales in the quarter totaled $1.3 billion, compared to sales of $1.8 billion last year. Included in the year-over-year sales decline were the negative...21Oct2009 | vitalstocks | 0 comments | Continued
(X) United States Steel Corporation Divests Interest in Wabush Mines
On Oct. 9, United States Steel Corporation’s (X) wholly owned subsidiary U.S. Steel Canada Inc., ArcelorMittal Dofasco and Cliffs Natural Resources Inc. (CLF) have agreed to sell their respective interest in the Wabush Mines joint venture to a Montreal-based steel...13Oct2009 | vitalstocks | 0 comments | Continued
(PCP) Precision Castparts Corporation Closes Deals
Recently, Precision Castparts Corp. (PCP), a diversified manufacturer of complex metal components and products, has completed its acquisition of Carlton Forge Works in Paramount, California. Carlton is a leading manufacturer of seamless rolled rings of nickel, titanium and steel for...7Oct2009 | vitalstocks | 0 comments | Continued
(RS) Reliance Steel & Aluminum Company Updates Outlook
Recently, Reliance Steel & Aluminum Company (RS), one of the leading metal service center companies in the US , updated its outlook for the third quarter ended Sep 30, 2009. Reliance expects earnings for the quarter to range from 40 cents to 45 cents per diluted share (no previous...6Oct2009 | vitalstocks | 0 comments | Continued
(X) Steel Output Peaks in July
According to data released by the World Steel Association, global steel output reached its highest level in July on the back of moderate rise in demand and resumption of idled facilities by producers. Total output of 103.9 million tons was an improvement of 4% from 99.8 million tons produced in the...1Sep2009 | vitalstocks | 0 comments | Continued
(X) United States Steel Restarting Facility
United States Steel Corp. (X) is restarting its blast furnace at its Hamilton, Ontario plant as steel demand edges higher after a nine-month shutdown. Demand for U.S. Steel’s flat-rolled steel has improved after bottoming in April and May, this year and is likely...31Aug2009 | vitalstocks | 0 comments | Continued