Research Desk Line-up: Worthington Industries Post Earnings Coverage

LONDON, UK / ACCESSWIRE / October 5, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Reliance Steel & Aluminum Co. (NYSE: RS) ("Reliance Steel"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=RS. The Company announced on October 03, 2017, that it has acquired all the common stock of Ferguson Perforating Co. ("Ferguson") through a wholly-owned subsidiary of Reliance Steel, Diamond Manufacturing Co. The terms of the transaction were not disclosed. For immediate access to our complimentary reports, including today's coverage, register for free now at:

http://protraderdaily.com/register/

Discover more of our free reports coverage from other companies within the Steel & Iron industry. Pro-TD has currently selected Worthington Industries, Inc. (NYSE: WOR) for due-diligence and potential coverage as the Company reported on September 27, 2017, its financial results for Q1 FY18 which ended on August 31, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Worthington Industries when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on RS; also brushing on WOR. Go directly to your stock of interest and access today's free coverage at:

http://protraderdaily.com/optin/?symbol=RS

http://protraderdaily.com/optin/?symbol=WOR

Details of the Deal

Founded in 1927, Ferguson manufactures perforated metal parts for numerous applications in domestic and international markets. Ferguson specializes in producing highly engineered and complex perforated metal for diverse end markets ranging from aerospace and automotive to industrial machinery, consumer electronics manufacturers, and sugar producers. The Company is headquartered in Providence, Rhode Island, and operates an additional facility in New Castle, Pennsylvania.

For the year ended December 31, 2016, Ferguson's net sales were approximately $31 million. Upon the close of the transaction, Ferguson's current Chief Executive Officer (CEO) will retire while the rest of the management team will remain in place.

Reason for Acquisition

Reliance Steel noted that Ferguson fits into the Company's growth strategy of acquiring companies with high value-added processing capabilities, which furthers Reliance Steel's product diversification.

Commenting on the deal, Gregg Mollins, President and CEO of Reliance Steel, stated:

"The Company is a very well respected perforator and is known for its ability to provide highly customized and complex processing solutions. Ferguson's skills complement our existing perforator company, Diamond Manufacturing, and we look forward to the potential opportunities that may arise as a result of this acquisition. We are very pleased to welcome Ferguson to the Reliance family of companies and to expand our presence in this important niche market."

On August 02, 2016, Reliance Steel announced that it had acquired all the capital stock of Alaska Steel Co., a full-line metal distributor headquartered in Anchorage, Alaska, for an undisclosed amount. Founded in 1982, Alaska Steel boasts the largest on-hand inventory in Alaska and offers both same day and next day deliveries from its three facilities in Anchorage, Fairbanks, and Kenai.

For the fiscal year ended December 31, 2015, Alaska Steel's net sales were approximately $33 million. The Company will operate as a wholly-owned subsidiary of Reliance Steel's American Metals Corp.'s subsidiary and current management team will remain in place.

About Reliance Steel & Aluminum Co.

Reliance Steel, headquartered in Los Angeles, California, is the largest metals service center Company in North America. Through a network of more than 300 locations in 39 states and 12 countries outside of the United States, the Company provides value-added metals processing services and distributes a full line of over 100,000 metal products to more than 125,000 customers in a broad range of industries. In 2016, Reliance Steel's average order size was $1,560; approximately 47% of orders included value-added processing, and approximately 40% of orders were delivered within 24 hours.

Last Close Stock Review

On Wednesday, October 04, 2017, the stock closed the trading session at $77.14, slightly falling 0.70% from its previous closing price of $77.68. A total volume of 382.42 thousand shares have exchanged hands. Reliance Steel & Aluminum's stock price surged 4.19% in the last one month, 5.27% in the past three months, and 11.46% in the previous twelve months. The stock is trading at a PE ratio of 17.38 and has a dividend yield of 2.33%. The stock currently has a market cap of $5.63 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily