NEW YORK, August 11, 2016 /PRNewswire/ --
The Steel and Iron segment continues to undergo serious restructuring as China's steel industry, which produces over 50% of global output, remains crippled by surplus capacity. Stock-Callers.com reviews the following four equities now and see where they stand in the market today: Nucor Corp. (NYSE: NUE), Commercial Metals Co. (NYSE: CMC), TimkenSteel Corp. (NYSE: TMST), and Reliance Steel & Aluminum Co. (NYSE: RS). You can access of our complimentary research reports on these stocks now at: http://stock-callers.com/registration
Charlotte, North Carolina-based Nucor Corp.'s shares saw a slight decline of 0.83% and finished Wednesday's trading session at $52.35. A total volume of 2.84 million shares was traded, which was above their three months average volume of 2.73 million shares. In the previous three months and since the start of this year, the stock has advanced 10.85% and 32.02%, respectively. The Company's shares are trading above their 50-day and 200-day moving averages by 1.45% and 17.45%, respectively. Moreover, shares of Nucor, which manufactures and sells steel and steel products in the US and internationally, have a Relative Strength Index (RSI) of 45.97.
On July 21st, 2016, Nucor announced net earnings of $233.8 million, or $0.73 per diluted share, for Q2 2016. By comparison, Nucor reported net earnings of $70.8 million, or $0.22 per diluted share, for Q1 2016 and net earnings of $124.8 million, or $0.39 per diluted share, for Q2 2015. Nucor's net sales increased 14% to $4.25 billion in Q2 2016 from $3.72 billion in Q1 2016 and decreased 3% compared with $4.36 billion in Q2 2015.
On July 26th, 2016, research firm Cowen reiterated its 'Market Perform' rating on the Company's stock with an increase of the target price from $50 a share to $55 a share. Visit us today and download your complete report on NUE for free at: http://stock-callers.com/registration/?symbol=NUE
On Wednesday, shares in Irving, Texas headquartered Commercial Metals Co. recorded a trading volume of 791,502 shares, and ended the session 0.37% lower at $16.31. The stock has gained 21.95% on an YTD basis. The Company's shares are trading 4.86% above their 200-day moving average. Furthermore, shares of Commercial Metals, which manufactures, recycles, and markets steel and metal products, and related materials and services in the US and internationally, have an RSI of 42.57. The complimentary research report on CMC can be accessed at: http://stock-callers.com/registration/?symbol=CMC
Shares in Canton, Ohio headquartered TimkenSteel Corp. closed the day at $8.73, slightly down 0.80%. The stock recorded a trading volume of 462,298 shares. The Company's shares have gained 4.18% since the start of this year and are trading 6.50% below their 200-day moving average. Additionally, shares of TimkenSteel, which manufactures and sells alloy steel, and carbon and micro-alloy steel products worldwide, have an RSI of 39.12.
On July 27th, 2016, TimkenSteel reported Q2 2016 net sales of $223.1 million and a net loss of $10.5 million or minus $0.24 per share. This compares to a net loss of $24.3 million, or minus $0.54 per share, in the same quarter last year. Q2 net sales decreased $55.1 million, or 19.8% on y-o-y basis and increased $5.2 million, or 2.4% sequentially. The company's EBITDA for the reported quarter was $4.0 million, a sequential improvement of $5.6 million. Register for free on Stock-Callers.com and download the PDF research report on TMST at: http://stock-callers.com/registration/?symbol=TMST
Reliance Steel & Aluminum
At the closing bell yesterday, shares in Los Angeles, California headquartered Reliance Steel & Aluminum Co. ended 0.75% lower at $74.97 and with a total volume of 462,423 shares traded. The stock has advanced 4.06% in the previous three months and 30.98% on an YTD basis. The Company's shares are trading above their 200-day moving average by 13.36%. Furthermore, shares of Reliance Steel & Aluminum, which provides metals processing services and distributes a line of approximately 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products, have an RSI of 38.23.
On July 28th, 2016, research firm Bank of America/ Merrill upgraded the Company's stock rating from 'Underperform' to 'Neutral'.
On August 2nd, 2016, the company announced that it has acquired all of the capital stock of Alaska Steel Company, a full-line metal distributor headquartered in Anchorage, Alaska. Founded in 1982, Alaska Steel boasts the largest on-hand inventory in Alaska. For the year ended December 31, 2015, Alaska Steel's net sales were approximately $33 million. The Company will operate as a wholly-owned subsidiary of Reliance's American Metals Corporation subsidiary and current management will remain in place. The terms of the transaction were not disclosed. Get free access to your research report on RS at: http://stock-callers.com/registration/?symbol=RS
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