Several other equities analysts also recently issued reports on STLD. Rosenblatt Securities began coverage on shares of Steel Dynamics in a research note on Wednesday, June 1st. They issued a buy rating and a $21.00 price objective for the company. Jefferies Group restated a buy rating and issued a $31.00 price objective (up previously from $28.00) on shares of Steel Dynamics in a research note on Friday, June 10th. Zacks Investment Research upgraded shares of Steel Dynamics from a hold rating to a buy rating and set a $26.00 price objective for the company in a research note on Tuesday, June 28th. Barclays PLC restated an overweight rating and issued a $28.00 price objective (up previously from $27.00) on shares of Steel Dynamics in a research note on Tuesday, July 12th. Finally, Clarkson Capital restated a neutral rating and issued a $24.00 price objective on shares of Steel Dynamics in a research note on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $27.77.
Shares of Steel Dynamics (NASDAQ:STLD) opened at 24.72 on Tuesday. The company has a 50-day moving average price of $24.90 and a 200 day moving average price of $24.56. The firm has a market capitalization of $6.03 billion, a PE ratio of 504.49 and a beta of 1.70. Steel Dynamics has a 12-month low of $15.32 and a 12-month high of $28.01.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Monday, July 18th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. Steel Dynamics had a net margin of 0.17% and a return on equity of 10.79%. The company earned $2.02 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm posted $0.22 earnings per share. On average, equities analysts expect that Steel Dynamics will post $2.07 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Wednesday, September 28th. Steel Dynamics’s dividend payout ratio is presently 1,120.00%.
In related news, Director Keith E. Busse sold 13,155 shares of Steel Dynamics stock in a transaction on Friday, July 29th. The shares were sold at an average price of $27.00, for a total transaction of $355,185.00. Following the sale, the director now owns 1,006,894 shares of the company’s stock, valued at approximately $27,186,138. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jurgen Dr Kolb sold 1,000 shares of Steel Dynamics stock in a transaction on Monday, July 25th. The stock was sold at an average price of $26.50, for a total transaction of $26,500.00. Following the sale, the director now directly owns 65,014 shares in the company, valued at approximately $1,722,871. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in STLD. Macquarie Group Ltd. purchased a new stake in Steel Dynamics during the second quarter valued at about $1,923,000. KAMES CAPITAL plc purchased a new stake in Steel Dynamics during the second quarter valued at about $14,849,000. Mason Street Advisors LLC purchased a new stake in Steel Dynamics during the second quarter valued at about $2,721,000. Royal Bank of Canada increased its stake in Steel Dynamics by 12.0% in the second quarter. Royal Bank of Canada now owns 1,589,888 shares of the company’s stock valued at $38,952,000 after buying an additional 169,904 shares during the period. Finally, Cohen & Steers Inc. purchased a new stake in Steel Dynamics during the second quarter valued at about $6,725,000. 82.42% of the stock is currently owned by hedge funds and other institutional investors.
Steel Dynamics Company Profile
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