MUSA: Metals USA Holdings Corp. Instablogs

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Friday, April 5, 9:53 AM Reliance Steel (RS -1.2%) says it has obtained some of the financing necessary to complete its acquisition of Metals USA (MUSA). The company announced an amended and restated $1.5B credit facility and said it has secured an increase option on the revolver for $500M. Comment!
Thursday, February 7, 3:57 PM Reliance Steel (RS) is upgraded to Buy from Hold with an $89 target price at Dahlman Rose, which sees its acquisition of Metals USA (MUSA) as a perfect fit, adding geographic and product breadth at a fair price. The firm sees the deal as immediately accretive and believes RS shares have more room to rise despite a ~40% rise since October. Comment! [Commodities, M&A, Quick Ideas]
Wednesday, February 6, 5:48 PM Metals USA (MUSA): Q4 EPS of $0.23 misses by $0.07. Revenue of $437.5M (-4% Y/Y) misses by $18.18M. (PR) Comment! [Earnings, Breaking News]
Wednesday, February 6, 12:45 PM Midday top 10 gainers: IGOI +28%. BIOL +27%. JAXB +22%. GDP +21%. CACH +20%. KFRC +19%. SFLY +20%. POWL +14%. MFR +14%. MUSA +13%.
Midday top 10 losers: VOCS -17%. CVU -14%. CALX -13%. OPAY -10%. AERL -10%. CHRW -10%. URRE -10%. SSY -9%. WXS -9%. ELN -8%. Comment! [On the Move]
Wednesday, February 6, 9:12 AM Premarket gainers: SFLY +17%. MUSA +13%. GDP +12%. AAV +8%. MBI +6%. CERN +5%. ZNGA +5%.
Losers: CHRW -7%. GME -5%. 6 Comments [On the Move]
Wednesday, February 6, 8:42 AM Reliance Steel (RS) agrees to acquire Metals USA (MUSA) for $20.65/share, representing an enterprise value of ~$1.2B. The transaction is expected to be accretive immediately upon closing. MUSA +12.8% premarket. Comment! [Commodities, M&A, On the Move]
Monday, November 19, 2012, 3:31 PM Credit Suisse thinks that U.S. steel sector valuations are already pricing in "fiscal cliff" uncertainty, and thinks there's a trading opportunity in the sector over the next 3-6 months as demand and pricing improve. The firm reiterates an Outperform on: Reliance Steel (RS +3%), Metals USA (MUSA +0.5%), Nucor (NUE +2.6%), and AK Steel (AKS +2.8%). Comment! [Commodities, On the Move]
Tuesday, October 23, 2012, 12:45 PM Midday top 10 gainers: ANNB +48%. HLYS +22%. BSDM +21%. OSG +20%. COGO +13%. MNI +9%. ARMH +9%. MUSA +8%. VRNG +8%. COH +8%.
Top 10 Losers: BCOM -13%. TDG -11%. LAWS -10%. VSCI -10%. MNST -10%. TROX -10%. HSTM -10%. ALV -10%. DVR -9%. PTNR -9%. 1 Comment [On the Move]
Monday, October 22, 2012, 4:55 PM Metals USA (MUSA) declares its first-ever quarterly dividend of $0.06/share. Forward yield 1.88%. For shareholders of record Nov 13. Payable Nov 27. Ex-div date Nov 09. (PR) Comment! [Dividends]
Monday, October 22, 2012, 4:26 PM Metals USA (MUSA): Q3 EPS of $0.37 misses by $0.01. Revenue of $483.7M (-2% Y/Y) misses by $17M. (PR) Comment! [Earnings]
Tuesday, October 2, 2012, 12:15 PM The most important news of recent days, writes Akram's Razor, was the $1B buyout bid for debt-laden Australian iron ore miner and steel producer Arrium. It suggests the point at which beaten-up metallurgical coal names and leveraged iron ore and steel producers become bait for mining giants or Asian/Middle Eastern buyers has moved closer. Some obvious picks: ANR, WLT, CLF, or X. 3 Comments [Quick Ideas, Global & FX, Commodities]
Tuesday, September 18, 2012, 12:42 PM Steel Dynamics (STLD -3%), Schnitzer Steel (SCHN -1.4%), Reliance Steel (RS -0.7%) and Worthington (WOR -1.4%) are downgraded to Hold from Buy at Jefferies, which believes steel shares are fully valued and expects U.S. steel prices to pull back. The firm maintains Buy ratings on the most defensive (NUE) and undervalued (GTI, MUSA, ZEUS) names within the group. Comment! [Commodities, Quick Ideas, On the Move]
Monday, September 17, 2012, 9:36 AM J.P. Morgan downgrades (I, II, III, IV) AK Steel (AKS -5.8%), U.S. Steel (X -4.4%), Reliance Steel (RS -3.4%) and Metals USA (MUSA -5%), saying it doesn’t think steel fundamentals will support a continued move higher beyond recent short covering after China’s infrastructure spending news and the latest QE round in the U.S., and that it expects steel prices to decline soon. Also cut: CLF -4.8%. 2 Comments [Commodities, Quick Ideas, On the Move]
Friday, September 7, 2012, 3:44 PM Metals USA (MUSA +4%) gains after Deutsche initiates coverage with a Buy and a price target of $21 per share. Deutsche notes that steel equities have been weak this year, declining 22% YTD and under performing the S&P by 33%. MUSA however, has out-performed both its peers and the S&P this year. The stock has been hit recently, since its largest shareholder Apollo sold a 10% stake in early August. The firm sees the weakness as a buying opportunity. Comment! [Commodities, On the Move]
Monday, July 23, 2012, 4:22 PM Metals USA Holdings (MUSA): Q2 EPS of $0.51 beats by $0.01. Revenue of $537.1M (+6.2% Y/Y) misses by $11M. Shares +0.8% AH. (PR) Comment! [Earnings]
Monday, June 18, 2012, 5:20 PM Steel stocks (X -3.2%) stumbled today after AK Steel (AKS -2.8%) issued downward guidance and Jefferies lowered steel price/demand forecasts, earnings estimates and target prices. Though steel share valuations have already suffered, the firm expects trends to remain weak and prefers more defensive stocks within the group: WOR, RS, NUE, MUSA. Comment! [Commodities, Quick Ideas]

MUSA Metals USA Holdings Corp.

MUSA

Metals USA Holdings Corp.