Steel Dynamics, Inc. (NASDAQ:STLD) dropped 0.7% during trading on Friday . The stock traded as low as $27.01 and last traded at $27.00. Approximately 118,935 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 2,147,162 shares. The stock had previously closed at $27.20.
STLD has been the subject of several research reports. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $35.50 to $47.00 in a research note on Wednesday, May 8th. Goldman Sachs Group set a $44.00 price target on Steel Dynamics and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Citigroup set a $40.00 price target on Steel Dynamics and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Zacks Investment Research upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, BidaskClub upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $46.08.
The company has a quick ratio of 2.15, a current ratio of 4.02 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $6.05 billion, a PE ratio of 4.92, a price-to-earnings-growth ratio of 0.67 and a beta of 1.31.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, April 22nd. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.91. Steel Dynamics had a return on equity of 33.56% and a net margin of 10.26%. The business had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the company earned $0.96 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. Equities analysts forecast that Steel Dynamics, Inc. will post 3.78 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.96 annualized dividend and a yield of 3.54%. Steel Dynamics’s dividend payout ratio is presently 17.49%.
A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Steel Dynamics by 3.4% during the first quarter. BlackRock Inc. now owns 24,696,468 shares of the basic materials company’s stock worth $871,044,000 after acquiring an additional 802,211 shares in the last quarter. Vanguard Group Inc lifted its holdings in Steel Dynamics by 4.3% during the third quarter. Vanguard Group Inc now owns 21,357,596 shares of the basic materials company’s stock worth $965,150,000 after acquiring an additional 882,061 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Steel Dynamics by 11.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,980,443 shares of the basic materials company’s stock worth $175,647,000 after acquiring an additional 508,062 shares in the last quarter. Norges Bank bought a new position in Steel Dynamics during the fourth quarter worth about $146,724,000. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Steel Dynamics by 2,996.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,061,799 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 3,930,619 shares in the last quarter. Hedge funds and other institutional investors own 83.69% of the company’s stock.
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Steel Dynamics Company Profile (NASDAQ:STLD)
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.
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