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Bayou Steel Corporation (BYX) Message Board

  • gckinv gckinv Dec 21, 1998 12:05 AM Flag

    BYX still making relatively big dollars.

    Profits are at third quarter levels. Lower scrap
    prices are more then makeing up for the $30/ton price
    drop. I think most people think BYX is losing money
    should be a big suprise when the Dec quarter is posted.

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    • As mentioned in the article the contact person is
      Peter Ricchiuti.
      I emailed him at
      The reply came from

      They mailed me a general guide and a year old Bayou
      Steel report. I am hoping to receive a current report.
      They request a donation to cover printing costs which
      I will gladly send. The report is well done. And
      certainly this mention in the NY Times is very nice,
      especially the P/E of 2.2. That should ring some


    • 3/7/99 Sunday NY TIMES Business Section mentions
      Burkenroad (Tulane Business School) "favorite" Bayou Steel
      in article on Page

      Bobkbob talked about this report (post 491 etc...), but
      it is a long way from Louisiana to the NY Times. We
      need sponsorship for this stock, and this is a start.

    • 29 Jan IBD page 1, item 8. "Imports of Japan's
      steel off 49% as slump grows" I'm condensing the
      article somewhat 'cause I don't type so good. "The US had
      threatened to file a trade complaint against Japnn unless
      imports fell sharply in Dec." US steel and unions have
      filed dumping complaints. All together, our import of
      steel dropped 32% in Dec.
      Will be curious to see
      what the Jan figures are. Looking for an excuse to buy
      some more for my and the spousette's IRAs.

    • I had a chance to read the Burkenroad Reort from
      Tulane Univ. It was quite interesting and it seems they
      are predicting the steel market to be slow this year
      with demand increasing in the year 2000 as well as
      firmer prices. The capital improvements that BYX is
      spending on right now will increase their capacity and
      efficiencies. I am inferring from the report that they expect
      2000 to be a pretty good year for BYX. Also, BYX
      compares quite favorably to two of the blue chip steel
      companies (Nucor and AK Steel). In fact I think you could
      put BYX in that category as an unknown or emerging
      blue chip in the steel industry even though they are a
      small company. However their operating efficiencies,
      labor cost per ton, scrap cost, conversion cost, etc.
      are some of the best ratios in the industry. With the
      improvements (estimated at $75 million over the next 2 1/2
      years in the Annual Report) they are planning this will
      be one tough competitor in the structural market. It
      further reinforces my view of this stock as a great long
      term play even though the steel market is hard to
      figure. When the next upcycle begins, BYX will be
      printing money. Even if the market stays down for a while,
      they will hold their own.

    • 1999 will be the year for the value stocks. Byx
      has a great balance sheet and the 1998 income
      statement is very impressive. I have been following this
      company since 1993 when the union was on strike. This is
      a very solid company and with the purchase of the
      TN mill, the balance sheet will continue to improve.
      The high flying "growth stocks" will slowly correct
      and the money will flow into "value stocks" like BYX.
      I am very confident this stock will have a great
      1999. Buy now before the train leaves the station.

    • it is a steel stock, and steel stocks have been
      battered the past 6 month as an out of favor sector. Plus
      it is probably an unknown company to the investment
      community because of it's small cap status. To me, it is a
      well run conservatively managed company that has
      management with some vision and should have some earnings
      momentum going for it (no, I don't work there!). It is a
      great value stock with a bright future, but it is a
      steel stock and not very exciting now. If it were Bayou
      Pharmceuticals, Bayou Semiconductor, or YahooBayou! it would be
      at $50 per share or so. That's the problem in my

      Since I post here frequently and am a bit biased one
      could logically ask, what has BYX done for you lately?
      Well, it hasn't done jack shit for me now. However, I
      feel that it could be a 3 or 4 bagger for me and I'm
      willing to bet on it. The market is high now and shares
      are expensive. The shares of quality steel stocks are
      low and those of BYX are dirt cheap. The objective is
      to make money with the parameter being buy low and
      sell higher. This stock fits that scenario perfectly
      IMO. If you are a value player with patience, you
      could have a big payday with this stock in time. It
      depaends on your patience. Good Luck Investing!!

    • Yikes, just found this stock, and it looks like a
      super value -- great P/BV, P/E, P/FCF, P/Sales,
      everything. If the thing doesn't go bankrupt it looks like a
      real 2- or 3-bagger and soon. Am I missing something?

    • You guys are GREAT!!! Thanks so much for the
      info. I talked to Marie and she indicated the report
      ought to be out soon, perhaps next week. Once I get a
      copy and you get yours let's share our thoughts on
      what it says. Let's hope this "undiscovered gem" gets
      discovered in '99!! THANK YOU SO MUCH!!

    • Email He promised to send me a
      copy of the report when it was ready.

      regards John

    • Wednesday January 6, 10:35 am Eastern

      RESEARCH ALERT - Merrill ups 7 steel cos

      NEW YORK,
      Jan 6 (Reuters) - Merrill Lynch on Wednesday said it
      raised its ratings on seven steel industry companies,
      including USX-U.S. Steel Group (NYSE:X - news), which was
      raised to a near-term buy from accumulate.

      USX-U.S. Steel's long-term rating also raised to buy from

      -- raised Bethlehem Steel Co. (NYSE:BS - news) to
      near-term accumulate. Left its long-term rating at

      -- raised Rouge Industries Inc.'s (NYSE:ROU - news)
      near-term rating to accumulate; kept its long-term rating
      at accumulate.

      -- raised LTV Corp. (NYSE:LTV
      - news) to near-term buy from accumulate; kept
      long-term rating at buy.

      -- raised Allegheny
      Teledyne Inc. (NYSE:ALT - news) near-term and long-term to
      buy from accumulate.

      -- rasied AK Steel Corp.
      to near-term accumulate from neutral and kept
      long-term accumulate rating.

      -- raised Nucor Corp.
      (NYSE:NUE - news) near-term to accumulate to from neutral,
      but kept its long-term buy rating.

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