Reliance Steel & Aluminum: Patience Will Be RewardedRon Sommer • Dec. 7, 2009
Market Over-reacted to Reliance Steel's Poor GuidanceMark Hines • Jul. 20, 2007
Thu, Oct. 23, 9:58 AM
- Net income of $95.5M, or $1.33 per diluted share vs. $95.1M, or $1.23 per diluted share in the third quarter of 2013.
- Revenue by segment: Carbon steel +10.8%; Aluminum +15.9%; Stainless steel +15.1%; Alloy +10.7%.
- Share repurchase plan has been extended to December 31, 2017.
- Q3 results
Thu, Oct. 23, 8:53 AM| Comment!
Mon, Aug. 4, 9:10 AM| Comment!
Thu, Jul. 24, 8:54 AM| Comment!
Mon, Jul. 14, 10:29 AM
- U.S. Steel (X -2.1%) gives up much of the bump it received late Friday on the Commerce Department's determination that Korean companies had dumped steel tubes into the U.S and slapped penalties of up to 15.75% on some Korean companies.
- Wells Fargo’s Sam Dubinky says the tariffs aren’t a game-changer for U.S. Steel, and remains cautious as it believes shares have been rewarded prematurely on management’s commitment to institute deep costs cuts, which while positive, could be overshadowed by weaker sheet pricing; the firm also thinks U.S. Steel’s cost advantage relative to peers will decline due to falling iron ore prices.
- AKS -1.1%, NUE -0.1%, STLD -1.2%, RS -0.3%, SCHN -1%.
Fri, Jul. 11, 4:32 PM
- U.S. Steel (X +3.2%) and other steel stocks surged near the close after the U.S. Commerce Department set duties of up to 15.75% on steel pipe from South Korean and eight other countries used in the oil and natural gas industry.
- The action reverses an earlier decision after the U.S. steel industry filed a complaint that it was being hurt by unfair competition from overseas.
- AKS +0.6%, NUE -0.5%, STLD +1.2%, RS +0.4%, SCHN +2%.
Thu, Apr. 24, 8:56 AM| Comment!
Tue, Apr. 8, 3:38 PM
- Steel companies (SLX +1.4%) are higher after Cowen analyst Anthony Rizzuto says improving steel market fundamentals are likely to provide a catalyst for steel stocks to rise.
- With Q1's bad weather now finished, the domestic steel market appears to be tightening and sentiment improving, Rizzuto says, expecting investors to focus more on the outlook for the remainder of 2014 than on Q1 results.
- The firm rates US Steel (X +3.1%), ArcelorMittal (MT +2.5%) and Reliance Steel (RS +0.3%) at Outperform; AK Steel (AKS +5.9%), Nucor (NUE +1.7%) and Steel Dynamics (STLD +1.3%) are Market Perform.
Tue, Mar. 25, 10:41 AM
- U.S. Steel (X +2%) CEO Mario Longhi will tell the U.S. Congressional Steel Caucus today that South Korean steelmakers are dumping steel pipes and tubes in the U.S. and have created a network of related companies in order to evade U.S. trade laws.
- Sales of pipes and tubes sold to oil and gas extracting companies have helped profitability at U.S. Steel, representing 48% of 2013 operating income, as well as other steelmakers such as Nucor (NUE +0.6%).
- Other steel names: AKS +2.3%, ZEUS +2.2%, WOR +1.4%, STLD +1%, CMC +0.9%.
- Aluminum names: CSTM +2.5%, CENX +2.1%, KALU +1%, AA +0.4%, RS +0.2%.
Tue, Mar. 18, 3:21 PM
- Steel stocks are higher despite Nucor's (NUE +0.8%) disappointing guidance, which apparently was more than offset by price increases at ArcelorMittal (MT +1.3%) as mills try to stem the downtrend in prices during the past two months.
- Nomura lowers its Q1 earnings estimates for steel stocks ahead of mid-quarter updates from NUE, mini-mill peer Steel Dynamics (STLD +1.5%) and AK Steel (AKS +6%), which are expected within the coming week, but the firm continues to positively view stock performance in the sector going forward.
- Also: X +5.3%, TX +3.1%, SCHN +2.4%, CMC +2.1%, GGB +1.8%, RS +1.8%.
Thu, Feb. 20, 8:53 AM| Comment!
Thu, Feb. 20, 12:05 AM| Comment!
Wed, Feb. 19, 5:30 PM| 3 Comments
Nov. 4, 2013, 8:26 AM
- Shares of U.S. Steel (X), AK Steel (AKS) and Steel Dymanics (STLD) surge premarket after Goldman Sachs raises its view on the steel sector to Neutral and upgrade the shares of the individual steelmakers to Buy.
- Although volatility in the cyclical steel sector will remain the norm, risks associated with oversupply are priced in and "investors should start to look beyond near-term headwinds," the firm says.
- Supply-demand fundamentals for steel are starting to look more appealing, particularly for flat steel, while the firm's "very bearish" view on input costs (iron ore) bodes well for steel producers in the long run; also, recently filed trade cases, if successful, could help.
- Reliance Steel (RS) is cut to Neutral from Buy based on valuation.
- X +3.9%, AKS +7.1%, STLD +3%.
Oct. 24, 2013, 8:51 AM
Oct. 22, 2013, 9:53 AM
- UBS steel analysts are cautiously optimistic on a return to growth for the steel industry (SLX), believing steel demand is heating up and the auto and manufacturing sectors can drive growth forward.
- UBS actually sees steel prices falling next year, but producers that have lowered costs and restructured are poised to perform well; the firm likes Nucor (NUE +0.4%) and Steel Dynamics (STLD +0.3%) as stocks to buy.
- However, higher fixed and legacy type costs will have a severe impact on other well-known names in the sector; the firm downgrades U.S. Steel (X -0.8%) and Reliance Steel (RS -0.1%) to Neutral while AK Steel (AKS +0.2%) and ArcelorMittal (MT -1%) are cut to Sell due to deteriorating fundamentals.
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Reliance Steel and Aluminum operates as a metals service center company in North America. It provides metals processing services & distributes metal products, including alloy, aluminum, brass, copper, carbon steel, titanium & specialty steel products.
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