AK Steel Holding
West Chester, Ohio headquartered AK Steel Holding Corp.'s stock recorded a trading volume of 11.27 million shares last Friday, and finished the trading session 2.40% higher at $9.40. The Company's shares have surged 70.91% in the last one month, 105.24% over the previous three months, and 319.64% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 67.80% and 98.45%, respectively. Furthermore, shares of AK Steel Holding, which through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, stainless and electrical steel, and tubular products in the US and internationally, have a Relative Strength Index (RSI) of 85.74.
On November 8th, 2016, AK Steel announced that it will increase current spot market base prices for all carbon flat-rolled steel products by a minimum of $30 per ton, effective immediately with new orders.
On November 14th, 2016, research firm Morgan Stanley upgraded the Company's stock rating from 'Equal-Weight' to 'Overweight'. AKS complete research report is just a click away at:
Last Friday, Porto Alegre, Brazil-based Gerdau S.A.'s stock recorded a trading volume of 4.71 million shares, and ended the session at 3.05% lower at $4.13. The Company's shares have advanced 23.84% in the last one month, 49.32% over the previous three months, and 245.85% on an YTD basis. The stock is trading 30.38% above its 50-day moving average and 83.97% above its 200-day moving average. Moreover, shares of Gerdau, which produces and commercializes steel products worldwide, have an RSI of 68.94.
On November 9th, 2016, Gerdau reported consolidated EBITDA of R$1.2 billion and EBITDA margin of 13.8% in Q3 2016. For the 9 months of 2016, the company reported positive free cash flow of R$1.0 billion. Gerdau's selling, general, and administrative expenses decreased 11.5% in the 9 months of 2016 compared to the same period of 2015; reflecting efforts made by the Company's management. The complimentary report on GGB can be downloaded at:
Fort Wayne, Indiana headquartered Steel Dynamics Inc.'s stock ended the day 0.11% higher at $35.78 with a total trading volume of 1.40 million shares. The Company's shares have gained 34.61% in the last month, 46.08% over the previous three months, and 103.83% on an YTD basis. The stock is trading 31.96% and 45.79% above its 50-day and 200-day moving averages, respectively. Additionally, shares of Steel Dynamics, which together with its subsidiaries, manufactures and sells steel products; processes and sells recycled ferrous and nonferrous metals; and fabricates and sells steel joist and deck products in the US and internationally, have an RSI of 88.97.
On November 14th, 2016, research firm Rosenblatt downgraded the Company's stock rating from 'Buy' to 'Neutral'. Sign up for your complimentary report on STLD at:
Shares in Charlotte, North Carolina-based Nucor Corp. recorded a trading volume of 855,138 shares and ended Friday's session 0.54% higher at $62.85. The stock has gained 32.76% in the last month, 30.08% over the previous three months, and 59.72% since the start of this year. The Company's shares are trading above their 50-day and 200-day moving averages by 24.44% and 29.63%, respectively. Furthermore, shares of Nucor, which manufactures and sells steel and steel products in the US and internationally, have an RSI of 80.07.
On November 1st, 2016, Nucor announced that it has closed the acquisition of Independence Tube Corp. for approximately $435 million. Independence Tube is a leading manufacturer of hollow structural section (HSS) steel tubing, which is used in a broad array of structural and mechanical applications including nonresidential construction, infrastructure, and agricultural and construction equipment end-use markets. Independence Tube has the second highest market share in HSS, selling its products primarily through service centers, which are also an important channel to market Nucor's products.
On November 14th, 2016, research firm Berenberg downgraded the Company's stock rating from 'Buy' to 'Hold'. Download the research report for free on NUE at:
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