Tag - SUTR

Sutor Technology Group Ltd. (Nasdaq:SUTR)
Changshu, China
http://www.sutorcn.com/en/

52-week low / high: $3.56/ $9.42
Shares Outstanding: 37.96 million
Market Capitalization: $232 million

Only five years old, Sutor Technology Group (Nasdaq:SUTR) is already one of the leading makers of steel-finishing fabrication products in China. The company makes hot-dip galvanized steel, which accounts for about half of the company’s revenue, and pre-painted galvanized steel, which made up about 32% of the firm’s revenue during fiscal 2007 ended June 30. Because of China’s skyrocketing economic expansion, most of Sutor’s products are supplied to the Chinese market, and only about 10% goes abroad.

In Sutor’s most recent quarter — the third quarter ended March 31 — the company’s revenue edged up slightly to $45.3 million from $45 million a year earlier. However, Sutor’s quarterly net income doubled to $7.8 million, or $0.21 per share, versus $3.9 million, or $0.11 per share, a year ago. Cost of revenue during the three months jumped 38% to $98.1 million from $71.3 million during the prior-year period.

For the fourth quarter, Wall Street analysts expect Sutor to post revenue of $110 million and per-share earnings of $0.21. For the year, Wall Street projects $422.5 million on earnings of $0.76 per share.

“I am pleased to report another strong quarter of growth driven by solid execution of business strategy focusing on vertical integration to provide a total solution for our customers,” CEO Lifang Chen said in a statement. “We completed Phase I of our vertical integration plan by installing the cold-rolled steel and acid-pickled steel production lines. The addition of these production lines diversified our product portfolio, enhanced the quality of our sourcing, and mitigated our supply chain risks.”

The China-based company recently shuffled its management team. On May 14, Sutor named Lifang Chen its new chief executive officer. Chen replaced Liuhua Guo, who assumed a position focused on technical issues and business development opportunities. Chen also retained her position as chairperson.

In the current volatile environment, Sutor’s stock has fared well. For the first seven months of 2008, SUTR is up 15%.

ATA Inc (Nasdaq:ATAI), GeoResources Inc (Nasdaq:GEOI) and Pyramid Oil Co (Nasdaq:PDO) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $750 million.

Sutor Technology Group Ltd (Nasdaq:SUTR), America's Car-Mart Inc (Nasdaq:CRMT) and RAM Energy Resources Inc (Nasdaq:RAME) are also among the new 52-week highs.

Here are the new 52-week highs among small caps:

China Precision Steel Inc (Nasdaq:CPSL), Gentium SpA (Nasdaq:GENT) and China Finance Online Co Ltd (Nasdaq:JRJC) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $750 million.

Meta Financial Group Inc (Nasdaq:CASH), Noah Education Holdings Ltd (Nasdaq:NED) and Sutor Technology Group Ltd (Nasdaq:SUTR) are also among the biggest percentage gainers.

Here are the biggest percentage gainers among small caps:

Shares of Sutor Technology Group Ltd. (Nasdaq:SUTR) are leaping in pre-market trading after the provider of steel finishing fabrication products in China, reported fiscal third-quarter earnings after Thursday’s close that doubled from the year-ago quarter and trumped the sole analyst’s estimate on Wall Street.

Shares jumped 19%, or $1.35, to $8.35 in pre-market trading. For detailed price information and recent news stories about Sutor Technology, click SUTR.

Everything from vinyl records to spandex leggings has seen a resurgence in one form or another, and heavy metal is no different. No, not the music genre; we’re talking the recycling of steel, aluminum and tungsten by scrap metal recyclers such as Metalico (AMEX:MEA) and China-based Sutor Technology, Ltd. (Nasdaq:SUTR).

An estimated 90 million tons of scrap metal are recycled in the United States each year, at a value of more than $60 billion. While the United States has become increasingly reliant on other countries for manufactured goods, scrap metal has become a vibrant export market. Domestically, according to the Institute of Scrap Recycling Industries, two of every three pounds of steel produced in the United States is made from scrap. 

Demand for ferrous (iron-based) scrap will likely continue to climb because the world’s steel producers are replacing virgin iron ore blast furnaces with electric arc furnace mini-mills that use scrap as their primary feedstock. Electric arc furnaces are more energy-efficient and environmentally friendly, and produce much less air and water pollution. Demand for non-ferrous (aluminum, copper, stainless steel, brass, nickel and other alloys) is also rising. Secondary smelters using non-ferrous scrap can produce metals at much lower costs than primary smelters using ore because of lower labor costs, energy consumption and environmental compliance expense.

Which brings us back to Metalico and Sutor Technology.

Metalico is a leading full-service scrap metal recycler, operating 11 scrap metal recycling facilities along the East Coast, an aluminum plant in Syracuse, N.Y. and five lead product manufacturing plants. Its primary business involves collecting . . .

TASER International, Inc. (Nasdaq:TASR), China Finance Online Co. (Nasdaq:JRJC) and Origin Agritech Ltd. (Nasdaq:SEED) are among the most actively traded companies in Monday's pre-market trading among those with market capitalizations under $750 million.

Sutor Technology Group Ltd. (Nasdaq:SUTR), E-Com Ventures, Inc. (Nasdaq:ECMV) and Radware Ltd. (Nasdaq:RDWR) are also among the most actively traded small-cap companies in pre-market trading.

Here are the most actively traded small-cap companies in Monday's pre-market trading:

China is attracting Wall Street's attention like never before. And with good reason: after all, a country that dominates the low-end consumer market in everything from clothing to toys to consumer electronics simply can't be ignored. The nation of 1.3 billion has become an economic juggernaut that has propelled Chinese companies onto the world stage and made China an integral part of the global economy.

China's economy grew 11.4% in 2007, the fastest in 13 years, and that type of growth requires an enormous amount of raw materials to fuel the country's rapid industrialization and urbanization. In fact, China now consumes roughly 50% of the world’s cement, about 25% of all aluminum and copper and nearly 40% of the steel supply. Which brings us to Sutor Technology Group, Ltd. (Nasdaq: SUTR). 

Founded in 2003, Changshu-based Sutor is one of China's leading private manufacturers of steel finishing fabrication products for a wide range of industrial uses. Sutor uses a number of processes to convert steel supplied by third parties into products including hot-dipped galvanized steel, pre-painted galvanized steel, acid-pickled steel and hard cold-rolled steel for use in automobiles, seagoing vessels, household appliance parts and outer casings, electronics, construction materials and large industrial equipment. Roughly 90% of the company's products are supplied to the Chinese market, while the remainder is exported to the United States, Europe, Asia and South Africa.

Last year, the company introduced a new antistatic color coating technology engineered for its steel strips. It also secured a contract to supply 10,000 tons of hot-dip galvanized steel to Anhui Water Resources Development Co., Ltd., a company engaged in various commercial building and infrastructure development projects. The pursuit of new technologies, expansion of production lines and increased market penetration has already begun to pay off for Sutor.