RE:RE:RE:RE:Take the money and run?Quiet board.
About 2 & ahalf months ago, Stelco finalized it's $35 shaer offer, Yesterday's high was $51.21 or 46% higher than the $35 offer.Stelco did very well .. the shareholders who took the offer, not so much
A little perspective.
At the end of 1st Q 2022, Stelco had a 12 months trailing EPS of just over $24.
Att the end oif 3rd Q, the 12 month trailing EPS was $19.96, but that was based on a significantly lower (weighted average) share count.
In the 2 months following their 1st Q 2022 release, Stelco traded at an average of under $40 while today they're over $50.
Also, since 1st Q, steel prices have fallen & high inflation has kicked in.
Consensus earnings for 4th Q2022 & 1st Q2023 show a contiinued decline in earnings.
Trading in the $50 range makes no sense to me but perhaps I'm missing something.
Over the last 3 days, Nucore SP has fallen by $6.02, while Steel Dynamics has fallen by $4.85.
Stelco is up almost $2 over the same period .. go figure.