Steel Dynamics (NASDAQ:STLD) Releases Earnings Results, Beats Estimates By $995.41 EPS

Steel Dynamics (NASDAQ:STLD) released its earnings results on Monday. The basic materials company reported $999.00 EPS for the quarter, beating analysts’ consensus estimates of $3.59 by $995.41, Zacks reports. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.

Steel Dynamics Trading Up 4.5%

NASDAQ:STLD traded up $9.03 during midday trading on Monday, hitting $209.35. The stock had a trading volume of 2,149,016 shares, compared to its average volume of 1,275,965. Steel Dynamics has a one year low of $112.72 and a one year high of $211.75. The company has a market capitalization of $30.30 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 0.53 and a beta of 1.39. The stock has a 50-day moving average of $185.69 and a 200 day moving average of $172.19. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Tuesday, March 31st were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.0%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, March 31st. Steel Dynamics’s payout ratio is currently 26.47%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of STLD. NewEdge Advisors LLC grew its stake in Steel Dynamics by 307.5% in the first quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock worth $102,000 after purchasing an additional 618 shares in the last quarter. Acadian Asset Management LLC grew its stake in Steel Dynamics by 82.7% in the first quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after purchasing an additional 1,578 shares in the last quarter. Jump Financial LLC bought a new position in Steel Dynamics in the second quarter worth approximately $1,019,000. Qube Research & Technologies Ltd purchased a new stake in Steel Dynamics during the second quarter worth $48,746,000. Finally, Sei Investments Co. lifted its holdings in Steel Dynamics by 7.9% during the second quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company’s stock worth $13,447,000 after buying an additional 7,712 shares during the period. Institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on STLD. Wall Street Zen raised Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company upped their target price on Steel Dynamics from $196.00 to $207.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Finally, JPMorgan Chase & Co. upped their target price on Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $185.11.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.