Earnings Results, Joint Ventures, Promotions, and Market Activity- Analyst Notes on Allegheny, Tenaris, Constellium, Valmont and Worthington
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NEW YORK, May 21, 2014 /PRNewswire/ --
Today, Analysts Review released its analysts' notes regarding Allegheny Technologies Inc. (NYSE: ATI), Tenaris SA (NYSE: TS), Constellium N.V. (NYSE: CSTM), Valmont Industries, Inc. (NYSE: VMI) and Worthington Industries, Inc. (NYSE: WOR). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://www.analystsreview.com/2719-100free.
Allegheny Technologies Inc. Analyst Notes
On May 1, 2014, Allegheny technologies Inc. (Allegheny) announced that its Board of Directors has declared a quarterly cash dividend in the amount of $0.18 per share of common stock. Allegheny informed that the dividend is payable on June 18, 2014, to stockholders of record at the close of the business on June 5, 2014. The full analyst notes on Allegheny are available to download free of charge at:
http://www.analystsreview.com/2719-ATI-21May2014.pdf
Tenaris SA Analyst Notes
On May 1, 2014, Tenaris S.A. (Tenaris) reported its Q1 2014 financial results with net sales of $2.6 billion, down 3.7% YoY. Net income totaled $428 million, up 1.2% YoY. Earnings per share were $0.36 in Q1 2014, unchanged from Q1 2013. EBITDA totaled $718 million compared to $699 million in Q1 2013. The Company informed that during the quarter, although it benefited from improving trends in the U.S. market and the usual seasonal effect in Canada, the Company's sales declined 3.5% QoQ, primarily due to lower sales in the Middle East, following the exceptional level of sales in Q4 2013. The full analyst notes on Tenaris are available to download free of charge at:
http://www.analystsreview.com/2719-TS-21May2014.pdf
Constellium N.V. Analyst Notes
On May 9, 2014, Constellium N.V. (Constellium) announced that it has signed a Joint Venture Agreement with UAJC Corp. to supply Body-in-White aluminum sheet to the North American automotive industry. The joint venture will have an initial target capacity of 100,000 metric tons supplied by cold rolled coils from both partners' rolling mills. The Company stated that the facility will be located in Bowling Green, Kentucky, designed to allow expansion beyond 100,000 tons. "Bowling Green is the right place for this plant, particularly because its central location will allow us to serve automotive OEMs across the US with our advanced and innovative range of products," commented Laurent Musy, President of Constellium's Packaging and Automotive Rolled Products business unit. "The availability of a highly skilled local labor force and the entrepreneurial spirit of the area were the decisive factors in choosing the city of Bowling Green and the state of Kentucky, which has been very supportive during the decision process". Production is scheduled to start in H1 2016, with full capacity reached by 2018. The full analyst notes on Constellium are available to download free of charge at:
http://www.analystsreview.com/2719-CSTM-21May2014.pdf
Valmont Industries, Inc. Analyst Notes
On May 7, 2014, Valmont Industries, Inc. (Valmont) announced the promotion of Vik Bansal to a newly created position of President and Chief Operating Officer, effective July 1, 2014. According to the Company, his new responsibilities include handling the daily operations of Valmont and he will report to Mogens Bay, Valmont's Chairman and CEO. "Vik is an experienced global executive with a successful track record both at Valmont and at prior assignments," said Mr. Bay. "He is a strategic thinker and committed to operational excellence. He will be a key partner in growing Valmont's global businesses." The full analyst notes on Valmont are available to download free of charge at:
http://www.analystsreview.com/2719-VMI-21May2014.pdf
Worthington Industries, Inc. Analyst Notes
On May 16, 2014, Worthington Industries, Inc.'s stock ended the day at $38.50 compared to the previous day's closing price at $38.37, which represents a 0.34% increase. The Company's stock rose 5.16% during the past one trading month compared to the Dow Jones Industrial Average which rose 0.40% and to Standard & Poor's 500 which gained up 0.83% during the same trading period. The full analyst notes on Worthington are available to download free of charge at:
http://www.analystsreview.com/2719-WOR-21May2014.pdf
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