Several other equities research analysts have also commented on STLD. Rosenblatt Securities started 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. Credit Suisse Group AG increased their target price on shares of Steel Dynamics from $27.00 to $33.00 and gave the company an outperform rating in a research report on Wednesday, June 8th. Jefferies Group reissued a buy rating and set a $31.00 target price (up from $28.00) on shares of Steel Dynamics in a research report on Friday, June 10th. Zacks Investment Research raised shares of Steel Dynamics from a hold rating to a buy rating and set a $26.00 target price for the company in a research report on Tuesday, June 28th. Finally, Barclays PLC reissued an overweight rating and set a $28.00 target price (up from $27.00) on shares of Steel Dynamics in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $27.77.
Steel Dynamics (NASDAQ:STLD) opened at 24.72 on Tuesday. Steel Dynamics has a 12 month low of $15.32 and a 12 month high of $28.01. The firm’s 50-day moving average is $24.90 and its 200 day moving average is $24.56. The firm has a market capitalization of $6.03 billion, a P/E ratio of 504.49 and a beta of 1.70.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Monday, July 18th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.02. The firm earned $2.02 billion during the quarter, compared to analyst estimates of $2.03 billion. Steel Dynamics had a net margin of 0.17% and a return on equity of 10.79%. During the same quarter last year, the business posted $0.22 EPS. On average, analysts expect that Steel Dynamics will post $2.07 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Wednesday, September 28th. Steel Dynamics’s 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 value of $355,185.00. Following the transaction, the director now owns 1,006,894 shares in the company, valued at approximately $27,186,138. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 completion of the transaction, the director now 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 corporate insiders.
A number of institutional investors have recently modified their holdings of STLD. Fuller & Thaler Asset Management Inc. boosted its position in shares of Steel Dynamics by 54.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,800 shares of the company’s stock worth $118,000 after buying an additional 1,700 shares during the last quarter. Acrospire Investment Management LLC boosted its position in shares of Steel Dynamics by 137.5% in the second quarter. Acrospire Investment Management LLC now owns 5,699 shares of the company’s stock worth $140,000 after buying an additional 3,299 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Steel Dynamics by 1,676.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,843 shares of the company’s stock worth $143,000 after buying an additional 5,514 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Steel Dynamics by 991.5% in the second quarter. Loomis Sayles & Co. L P now owns 7,029 shares of the company’s stock worth $172,000 after buying an additional 6,385 shares during the last quarter. Finally, North Point Portfolio Managers Corp OH acquired a new position in shares of Steel Dynamics during the second quarter worth approximately $203,000. Institutional investors own 82.42% of the company’s stock.
Steel Dynamics Company Profile
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