STU - Steel & Tube Holdings

[Marilyn Munroe]

FBU going to take another look I wonder?

I'm sure Fletchers would like nothing better than take out the competition so they could hang New Zealand merchant steel buyers upside down and empty their pockets.

The Commerce Commission may cause such a plan to turn to rust.

Boop boop de do
Marilyn

[nztx]

Are NZ Steel's owners closing up shop in NZ ?

I seem to recollect something hitting the news a while back

Do they still have their blocking stake in STU - and what is the possibility of them looking for
a new home & owner for their parcel in the future ?

As a popular past Neil Young number says .. 'Rust never Sleeps.. '

[Lion_graf]

I'm sure Fletchers would like nothing better than take out the competition so they could hang New Zealand merchant steel buyers upside down and empty their pockets.

The Commerce Commission may cause such a plan to turn to rust.

Boop boop de do
Marilyn

I don't think it would be a smart move. I'm working in construction post lockdown building sheds and every bit of steel has come from australian companies. It's cheaper, easier to buy. Whereas New Zealand you have to go all round the country searching. May be able to get a bit here and there then get what your given.

[Greekwatchdog]

Think they Bought Milfords stake (15%).

[Filthy]

might be due for a trading update this week. was the 18th Nov last year...

[SailorRob]

might be due for a trading update this week. was the 18th Nov last year...

Dear shareholders,

We are printing cash and it's piling up and we have no idea what to do with it.

Against our market cap it's stunning but nobody cares.

Hell we might even buy shares back from a market that has forgotten we exist.

[Nigel]

One of the few decent stocks to still be well south of where it was in February and significantly under NTA (STU was around 80c in Feb, now 68c; NTA $1.03).
APL is another (was around 60c, now 33c; NTA 56c).

[SailorRob]

One of the few decent stocks to still be well south of where it was in February and significantly under NTA (STU was around 80c in Feb, now 68c; NTA $1.03).
APL is another (was around 60c, now 33c; NTA 56c).

On the NZX yep.

Not just under NTA but also under Net Working Capital. Rest of business free.

Very large free cash flow yield too.

[nztx]

On the NZX yep.

Not just under NTA but also under Net Working Capital. Rest of business free.

Very large free cash flow yield too.

Don't whisper too loud -- a now profitable FBU might be attracted in for another
swipe at a large pot of discounted STU, leaving without any spitting pips out ..

[GR8DAY]

.........someone give this a good nudge over 70c please, crazy cheap and we need a good run through to 75 at least just to get a bit of respectability back into STU. Has to be benefiting now from the new found building confidence gaining a foothold.??