UPDATE: Steel & Tube shares rise to two-week high as earnings beat guidance

Fri, 12 Aug 2016

(Recasts to add stock gain, CEO comments) By Jonathan Underhill Aug. 12 (BusinessDesk) - Steel & Tube Holdings stock rose to a two-week high after it posted full-year earnings that beat guidance and lifted its dividends, as the contribution from new acquisitions and cost savings helped offset weaker prices and margins, and costs related to "quality issues". Underlying profit was $19.4 million in the year ended June 30, from $21.4 million a year earlier, the Wellington-based company said in a statement. Sales rose 3 percent to a record...

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