Elongated metal stock is advanced intermittently past punch presses which form holes in the stock when the stock dwells. A shear cuts off successive leading end portions of the stock and forms the stock into short pieces. The same machine is capable of running both angle iron and flat stock without making any significant conversons to the machine between runs. This is achieved through the provision of a feed mechanism and clamping units which are adapted to feed and clamp flat stock as well as angle iron.