Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) VP Chad Bickford sold 2,000 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the sale, the vice president now owns 17,100 shares of the company's stock, valued at $2,306,106. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Steel Dynamics Trading Up 4.7 %
NASDAQ STLD opened at $135.72 on Tuesday. Steel Dynamics, Inc. has a 1-year low of $102.86 and a 1-year high of $151.34. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $20.94 billion, a PE ratio of 12.28 and a beta of 1.31. The firm's fifty day simple moving average is $122.60 and its 200-day simple moving average is $126.60.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the prior year, the business posted $3.47 earnings per share. Steel Dynamics's revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Steel Dynamics, Inc. will post 10.22 earnings per share for the current fiscal year.
Steel Dynamics Announces Dividend
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The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics's payout ratio is 16.65%.
Analysts Set New Price Targets
A number of brokerages have recently commented on STLD. UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and increased their price objective for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Bank of America upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and increased their price objective for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. BMO Capital Markets increased their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a research report on Friday, October 18th. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Finally, Morgan Stanley reduced their target price on Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating for the company in a report on Wednesday, September 18th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $144.29.
Check Out Our Latest Stock Analysis on STLD
Hedge Funds Weigh In On Steel Dynamics
Hedge funds have recently bought and sold shares of the business. Measured Wealth Private Client Group LLC grew its position in shares of Steel Dynamics by 5.7% in the third quarter. Measured Wealth Private Client Group LLC now owns 7,040 shares of the basic materials company's stock valued at $888,000 after purchasing an additional 378 shares during the last quarter. Cornerstone Wealth Group LLC grew its position in shares of Steel Dynamics by 2.1% in the third quarter. Cornerstone Wealth Group LLC now owns 23,749 shares of the basic materials company's stock valued at $2,994,000 after purchasing an additional 491 shares during the last quarter. SteelPeak Wealth LLC grew its position in shares of Steel Dynamics by 118.0% in the third quarter. SteelPeak Wealth LLC now owns 4,004 shares of the basic materials company's stock valued at $507,000 after purchasing an additional 2,167 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in shares of Steel Dynamics by 18.9% in the third quarter. First Trust Direct Indexing L.P. now owns 6,957 shares of the basic materials company's stock valued at $877,000 after purchasing an additional 1,106 shares during the last quarter. Finally, Trajan Wealth LLC acquired a new stake in shares of Steel Dynamics in the third quarter valued at about $209,000. 82.41% of the stock is owned by institutional investors and hedge funds.
Steel Dynamics Company Profile
(
Get Free Report)
Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.
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