Precision Castparts Corp

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  • uploads///last valuations
    Company & Industry Overviews

    Aluminum Companies’ Valuation: Key Investor Takeaways

    Alcoa’s (AA) valuation has fallen over the last year. Currently, it trades at a discount to its five-year average. The valuation fell for a reason.

    By Mohit Oberoi, CFA
  • uploads///value chain profit vary
    Company & Industry Overviews

    Why Profit Margins Vary across the Aluminum Value Chain

    The profit margins vary across the aluminum value chain. Upstream aluminum producers’ earnings depend on their position on the cost curve.

    By Mohit Oberoi, CFA
  • uploads///Estimates
    Company & Industry Overviews

    What to Expect from Berkshire Hathaway’s Earnings

    Berkshire Hathaway (BRK-B) is expected to post EPS (earnings per share) of $2,829 per share in 4Q16 and $2,880 in 1Q17.

    By Robert Karr
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    Macroeconomic Analysis

    Berkshire Is Expected to Post Strong Earnings in 1Q16

    Berkshire Hathaway’s stock has risen by 9% over the past month. In comparison, SPY has risen by 7% over the past month.

    By Robert Karr
  • uploads///part  aluminum premiums
    Company & Industry Overviews

    US Aluminum Premiums Could Remain Stable in 2016

    While capacity cuts by US smelters might not have an impact on aluminum prices, cuts could support aluminum premiums. Aluminum premiums are more regional.

    By Mohit Oberoi, CFA
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    Company & Industry Overviews

    Alcoa’s Downstream Business Is Thriving: What about Upstream?

    Alcoa’s upstream business has been gaining strength. It also has a downstream business, which produces alumina and primary aluminum.

    By Mohit Oberoi, CFA
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    Miscellaneous

    No Surprises in Alcoa’s Post-Separation Management Structure

    On November 24, Alcoa announced the executive management structure to be introduced following its split.

    By Mohit Oberoi, CFA
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    Fund Managers

    Elliott Management Bet on Value Creation after Alcoa’s Split

    In its SEC regulatory filing disclosing its stake in Alcoa (AA), Elliott Management noted that it found Alcoa “dramatically undervalued by the public market.”

    By Mohit Oberoi, CFA
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    Fund Managers

    Elliott Management Found Value in Alcoa

    Elliott Management is not the only company finding value in the beleaguered commodity space. In August, Carl Icahn disclosed his 8.5% stake in Freeport-McMoRan.

    By Mohit Oberoi, CFA
  • uploads///part  value add structure
    Miscellaneous

    Alcoa’s Split: How Will the Value-Add Company Look?

    In this part, we’ll explore the value-add company’s structure. The company will have three business segments, as you can see in the graph below.

    By Mohit Oberoi, CFA
  • uploads///aerospace
    Macroeconomic Analysis

    Alcoa Sees Strong End User Demand in 1Q15

    April has been a mixed bag for the aluminum industry. End user demand continues to be strong, at least in Alcoa’s core markets of North America and Europe.

    By Mohit Oberoi, CFA
  • uploads///aluminum inventories
    Macroeconomic Analysis

    Aluminum Inventories Continue Downward Journey in April

    As of April 10, aluminum inventories with LME registered warehouses stood at 3.9 metric tonnes, a year-to-date decline of 7.5%.

    By Mohit Oberoi, CFA
  • uploads///airware
    Earnings Report

    Constellium’s Aerospace Segment: What Are Its Challenges?

    In the third quarter, Constellium warned that its Aerospace and Transportation, or A&T, segment’s profits could come down.

    By Mohit Oberoi, CFA
  • uploads///business segments
    Earnings Report

    What Are Constellium’s Major Operations?

    Constellium is engaged in the aluminum fabrication business. Its fourth quarter earnings were a positive surprise for the markets.

    By Mohit Oberoi, CFA
  • uploads///shipmnet up profit down
    Earnings Report

    Constellium’s Shipments Rose, But Its Profits Decreased in 4Q14

    While Constellium’s shipments increased in the fourth quarter, its profits decreased. Its fourth quarter EBITDA came down by 14% on a YoY basis.

    By Mohit Oberoi, CFA
  • uploads///rti metals
    Company & Industry Overviews

    How RTI International Metals fits into Alcoa’s aerospace strategy

    Alcoa has announced the acquisition of RTI International Metals (RTI). RTI will enhance Alcoa’s portfolio of titanium offerings.

    By Mohit Oberoi, CFA
  • uploads///agn
    Fund Managers

    Viking Global Investors increases stakes in Allergan

    Allergan’s total product sales were $1.79 billion, up 17.2% as compared to total product sales in 3Q13.

    By Patricia Garner
  • uploads///stz
    Fund Managers

    Viking Global Investors sells position in Constellation Brands

    Viking Global Investors sold its position in Constellation Brands (CAM) in 3Q14. The position accounted for 1.27% of Viking’s 2Q portfolio.

    By Patricia Garner
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