Friedman Industries is an AMEX listed security that has been trading in a range between $7.81 and $12.89 over the past year. With 6,712,110 shares outstanding, a recent price of $9.10 gives a total market capitalization of $62,019,895. While there are certainly larger companies, Friedman Industries has definitely earned its place in the pack. Last year, Friedman Industries created $1.16 in earnings for every share outstanding.
Friedman Industries is currently priced by the market at 8.00 times last year’s earnings. Many trading multiples around the world are quite attractive these days, but don’t be fooled. A Price to Earnings ratio of 0 simply means that the security didn’t make any money last year.
With a share price under $50 a share and earnings per share in excess of $1 a share, Friedman Industries is unlikely to be an interesting value proposition.
Showing posts with label Steel. Show all posts
Showing posts with label Steel. Show all posts
Monday, July 16, 2007
Wednesday, July 11, 2007
United States Steel Corp.
United States Steel Corp. is among the world’s largest Steel sector businesses in the world. United States Steel Corp.’s employees generate $1.391B in profits on $15.743B of revenue. Global output in the Steel business will likely rise substantially over the next 10 years. Long-term economic growth may lift all boats, but United States Steel Corp. is determined to remain a market leader. Sectoral leadership in the Steel segment takes dedication and consistency, but management seeks out-sized growth.
United States Steel Corp.’s ticker symbol X has recently been trading near $111.63 a share. The United States Steel Corp. corporate headquarters in Pittsburgh PA predicts Steel profits will satisfy shareholders in search of risk-appropriate returns.
The significance of market volume is sometimes ignored, but with a total market capitalization of $13.207B ensures sufficient liquidity. With a beta of 3.42, the company is more volatile than the market as a whole. When the average equity moves higher, United States Steel Corp. moves more aggressively.
United States Steel Corp.’s ticker symbol X has recently been trading near $111.63 a share. The United States Steel Corp. corporate headquarters in Pittsburgh PA predicts Steel profits will satisfy shareholders in search of risk-appropriate returns.
The significance of market volume is sometimes ignored, but with a total market capitalization of $13.207B ensures sufficient liquidity. With a beta of 3.42, the company is more volatile than the market as a whole. When the average equity moves higher, United States Steel Corp. moves more aggressively.
Tuesday, July 10, 2007
Nucor Corp.
Nucor Corp. is among the world’s largest Steel sector businesses in the world. Nucor Corp.’s employees generate $1.760B in profits on $14.975B of revenue. Global output in the Steel business will likely rise substantially over the next 10 years. Long-term economic growth may lift all boats, but Nucor Corp. is determined to remain a market leader. Sectoral leadership in the Steel segment takes dedication and consistency, but management seeks out-sized growth.
Nucor Corp.’s ticker symbol NUE has recently been trading near $59.89 a share. The Nucor Corp. corporate headquarters in Charlotte NC predicts Steel profits will satisfy shareholders in search of risk-appropriate returns.
The significance of market volume is sometimes ignored, but with a total market capitalization of $18.069B ensures sufficient liquidity. With a beta of 2.07, the company is more volatile than the market as a whole. When the average equity moves higher, Nucor Corp. moves more aggressively.
Nucor Corp.’s ticker symbol NUE has recently been trading near $59.89 a share. The Nucor Corp. corporate headquarters in Charlotte NC predicts Steel profits will satisfy shareholders in search of risk-appropriate returns.
The significance of market volume is sometimes ignored, but with a total market capitalization of $18.069B ensures sufficient liquidity. With a beta of 2.07, the company is more volatile than the market as a whole. When the average equity moves higher, Nucor Corp. moves more aggressively.
Friday, June 29, 2007
Allegheny Technologies, Inc.
Allegheny Technologies specializes in exotic metal alloys and stainless steel. Still headquartered in Pittsburgh long after many of the other major steel manufacturers left town, the company has a proud history stretching back to Revolutionary times.
While centered in Pittsburgh, the company has recognized the realities of globalized production of steel and has opened plants in China and Europe. The corporate concentration on more exotic metals is intended to partially shield the company from international competition, but rapidly developing international competitors with significant government backing are a fact of life in the industry.
Allegheny Technologies is in the awkward position of asking for large government subsidies or protection from international competition in order to make its business more tenable. While a Democratic Congress will quite certainly be more amenable to worker-friendly trade restrictions, labor unions have reached their nadir in recent years. Without political favoritism, big steel may simply no longer be economically feasible in an environment of significantly higher labor costs.
While centered in Pittsburgh, the company has recognized the realities of globalized production of steel and has opened plants in China and Europe. The corporate concentration on more exotic metals is intended to partially shield the company from international competition, but rapidly developing international competitors with significant government backing are a fact of life in the industry.
Allegheny Technologies is in the awkward position of asking for large government subsidies or protection from international competition in order to make its business more tenable. While a Democratic Congress will quite certainly be more amenable to worker-friendly trade restrictions, labor unions have reached their nadir in recent years. Without political favoritism, big steel may simply no longer be economically feasible in an environment of significantly higher labor costs.
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