Topic: How To Invest

Power Growth Investor Hotline – Friday, November 22, 2024

Article Excerpt

RUSSEL METALS INC., $44.24, is a buy. Through their shares, investors tap one of North America’s largest metals distribution companies, with a growing focus on value-added processing. The company carries on business in three segments: metals service centres, energy field stores and steel distributors. Its network of metals service centres carries an extensive line of metal products in a wide range of sizes, shapes and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals. Its energy field stores carry a specialized product line focused on the needs of energy industry customers. Its steel distributors act as master distributors selling steel in large volumes to other steel service centres and large equipment manufacturers mainly on an “as is” basis. Russel is now acquiring Tampa Bay Steel Corporation for $79.5 million U.S. That firm operates in the central Florida region, and its business includes significant value-added processing and non-ferrous products. Tampa Bay…