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The Company is engaged in steel processing, pipe manufacturing and processing and steel and pipe distribution.
If we can't make steel in Texas, we can't make steel.
Compared the rest of the sector, it seems like there would be some better choices. Returns are below standard, they slashed their dividend to near nothing, and their growth rates look dismal. A few positives: nice quick and current ratio and their dividend (although a penny) creates a nice yield. Steel's not going anywhere so I'll check back on this one later...
strong Iron company
Highly cyclical, but excellent management and ridiculously under-priced
One day the steel products they make and supply throughout the US Gulf Coast states will be back in demand. In the meantime FRDs balance sheet is pristine.
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