Stock Research Monitor: IGC, NUE, and RS
LONDON, UK / ACCESSWIRE / May 23, 2018 / If you want a free Stock Review on GGB sign up now at www.wallstequities.com/registration. This morning, WallStEquities.com follows the Steel and Iron industry, which is a basis for the development of a number of industries in the global economy: defense, transportation and heavy engineering, and energy and construction (including aeronautical and shipping construction). Under observation today are these four equities: Gerdau S.A. (NYSE: GGB), India Globalization Capital Inc. (NYSE AMER: IGC), Nucor Corp. (NYSE: NUE), and Reliance Steel & Aluminum Co. (NYSE: RS). All you have to do is sign up today for this free limited time offer by clicking the link below.
On Tuesday, shares in Sao Paulo, Brazil-based Gerdau S.A. saw a slight decline of 0.43%, ending the day at $4.62. The stock recorded a trading volume of 8.83 million shares, which was above its three months average volume of 8.81 million shares. The Company's shares have advanced 63.83% over the past year. The stock is trading above its 200-day moving average by 13.31%. Moreover, shares of Gerdau, which provides steel-related products and services worldwide, have a Relative Strength Index (RSI) of 45.96.
On May 09th, 2018, Gerdau reported its Q1 2018 results. EBITDA was R$1,5 million in Q1 2018, up 74% from Q1 2017, with EBITDA margin of 14.3%. Adjusted net income was R$451 million in the quarter, with dividend distribution of R$136.1 million. The Company also reported reduction in its SG&A expenses in the first quarter, which corresponded to 4.0% of net sales. Get the full research report on GGB for free by clicking below at:
India Globalization Capital
Shares in Bethesda, Maryland-based India Globalization Capital Inc. ended the day 1.23% lower at $0.61 with a total trading volume of 181,363 shares. In the last month and over the past year, the stock has gained 1.63% and 46.91%, respectively. The Company's shares are trading above their 50-day and 200-day moving averages by 1.63% and 1.32%, respectively. Furthermore, shares of the Company, which engages in the development of cannabis-based therapies to treat Alzheimer's, pain, nausea, eating disorders, several end points of Parkinson's, and epilepsy in humans, dogs, and cats, have an RSI of 51.83. Today's complimentary research report on IGC is accessible at:
At the close of trading on Tuesday, shares in Charlotte, North Carolina-based Nucor Corp. finished 0.20% lower at $65.05 with a total trading volume of 1.55 million shares. The stock has advanced 3.45% in the last month and 14.61% over the past year. The Company's shares are trading above their 50-day and 200-day moving averages by 3.35% and 6.76%, respectively. Additionally, shares of Nucor, which manufactures and sells steel and steel products in the US and internationally, have an RSI of 60.68.
On May 11th, 2018, Nucor's Board of Directors approved the construction of a galvanizing line at the Company's sheet mill in Arkansas to support its growth into a wider and more diverse set of strategic end-market applications. The new galvanizing line is a $240 million investment, with an annual capacity of approximately 500,000 tons. It is expected to be operational in the first half of 2021.
On May 17th, 2018, research firm Macquarie upgraded the Company's stock rating from ‘Neutral' to ‘Outperform'. Register now for your free research document on NUE at:
Reliance Steel & Aluminum
Los Angeles, California headquartered Reliance Steel & Aluminum Co.'s shares recorded a trading volume of 321,140 shares at the end of yesterday's session. The stock closed the day 0.40% higher at $94.78. The Company's shares have advanced 7.29% in the past month, 3.36% in the previous three months, and 33.01% over the past year. The stock is trading above its 50-day and 200-day moving averages by 6.84% and 14.71%, respectively. Additionally, shares of the Company, which operates as a metals service center company in the US and internationally, have an RSI of 63.73.
On April 26th, 2018, Reliance Steel & Aluminum reported its results for Q1 ended March 31st, 2018. Net sales of $2.76 billion set a new Company record, tons sold were a record 1.6 million, and gross profit dollars were a record $819.9 million with a gross profit margin of 29.7% during the quarter. Net income attributable to the Company for Q1 2018 was $169.0 million, and earnings per diluted share were $2.30.
On April 30th, 2018, research firm Cowen reiterated its ‘Outperform' rating on the Company's stock with an increase of the target price from $107 a share to $112 a share. Click on the link below and see our free report RS at:
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