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Reliance Steel and Aluminum Co. said Thursday that second-quarter profit surged more than 60 percent on demand for its products by companies in energy, farming, aerospace and other industries.
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Reliance Steel & Aluminum Company completed an agreement to acquire the outstanding stock of PNA Group Holding Corporation. The PNA Group includes Infra-Metals.
Infra-Metals has announced plans to build a multi-million dollar facility in New Boston.
Infra-Metals has six facilities across the country. In late 2007 the Infra-Metals board of directors approved the New Boston site as its seventh location. Continue Reading »»
Moody’s Investors Service said it placed the ‘Baa3′ senior unsecured ratings of Reliance Steel & Aluminum Co. under review for a possible downgrade, following the company’s agreement to acquire PNA Group
Holding Corp., a steel service center company, from private firm Platinum Equity
in a deal worth roughly $1.1 billion.
The deal is expected be financed through borrowings under Reliance’s $1.1 billion revolving credit facility and a $750 million issuance in a combination of debt and equity.
Moody’s said it expects that the transaction, if it is successfully closed, will increase Reliance’s leverage and tighten coverage ratios
The vice president and corporate controller of metals processor Reliance Steel & Aluminum Co. exercised options for 2,500 shares of common stock, according to a filing with the Securities and Exchange Commission Friday.
In a Form 4 filed with the SEC, Brenda Sumiye Miyamoto reported exercising the options on Friday for $24.58 apiece, then selling all 2,500 shares on the same day for $68.61 to $68.66 apiece.
Insiders file Form 4s with the SEC to report transactions in their companies’ shares. Open market purchases and sales must be reported within two business days of the transaction.
Is the down movement for Reliance Steel & Aluminum Co. (down 0.31 …
By info@askStockGuru.com (AskStockGuru.com)
Down -0.31% today. The stock has retraced 5.4% from its recent high price of 64.27 which occurred on 16-Apr-2008. The current price is below the 20 day moving average of 61.92. The stock could possibly find support at the 50 day moving …
We rank RELIANCE STL & AL (up 3.01 percent, RS) 9 out of 10 on …
By info@askStockGuru.com (Ask Stock Guru)
Compared to other stocks in the market, the performance of RELIANCE STL & AL (up 3.01 percent, RS) has been above average. RS has outperformed 80% of all the stocks we track.
RS: Reliance Steel, Reliable Cash Flows
By William Trent
Over the last 12 months, free cash flow (cash flow from operations less capital expenditures) has come in at $540 million, or 12.2% of Relianceâ€™s current market capitalization. In 2007, it used $270 million to grow via acquisition and …
Reliance Steel & Aluminum Co. Declares 2008 Second Quarter …
LOS ANGELES–(BUSINESS WIRE)–Reliance Steel & Aluminum Co. (NYSE:RS) announced today that on April 16, 2008, its Board of Directors declared a regular quarterly cash dividend of $.10.