Stelco Holdings Inc T.STLC

Primary Symbol: STZHF

Steel Steel

Stelco Holdings Inc. is a Canada-based integrated and independent steelmaker with advanced integrated steelmaking facilities in North America. The Company is engaged in the production and sale of steel products. It produces flat-rolled value-added steels, including coated, cold-rolled and hot-rolled steel products, as well as pig iron and metallurgical coke. With its gauge, crown, and shape control, as well as uniform through-coil mechanical properties, the Company’s steel products are supplied to customers in the construction, automotive, energy, appliance, and pipe and tube industries across Canada and the United States as well as to a variety of steel service centers, which are distributors of steel products. The Company operates from two facilities: Lake Erie Works (LEW) near Nanticoke, Ontario and Hamilton Works (HW) in Hamilton, Ontario.

OTCPK:STZHF - Post by User

Stelco Holdings Inc

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Comment by donmayneon Oct 10, 2018 10:13am

84 Views

Post# 28772311

RE:RE:Insider selling

Interesting that today, Goldman Sachs exercised the option to purchase a portion (730000 shares) of the overallotment at a price of $22.65. So the total shares sold pursuant to the secondary offering is 8,730,000 at $22.65.

The market price is currently about $2 below that. It does suggest that the wholesale investors (funds) have a more optimistic view than the retail investors. They probably have a longer-term view as well.

This may well put a ceiling of $22.65 or thereabouts on the price for the short term. Third quarter results are expected soon and this is estimated by the consensus of analysts at $1.69 per share. On an annual basis this amounts to a PE of about 4.

Steel prices have been declining somewhat so future earnings might be revised downward.

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