Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) Director Keith E. Busse sold 5,040 shares of Steel Dynamics stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $83.51, for a total value of $420,890.40. Following the completion of the transaction, the director now owns 724,034 shares in the company, valued at $60,464,079.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
STLD stock traded down $0.63 during mid-day trading on Monday, hitting $82.31. 37,375 shares of the company were exchanged, compared to its average volume of 2,382,999. The company has a current ratio of 3.42, a quick ratio of 1.74 and a debt-to-equity ratio of 0.45. Steel Dynamics, Inc. has a 1-year low of $50.54 and a 1-year high of $100.37. The business has a 50 day simple moving average of $83.65 and a 200-day simple moving average of $71.50. The stock has a market capitalization of $15.53 billion, a PE ratio of 4.28 and a beta of 1.30.
Steel Dynamics (NASDAQ:STLD – Get Rating) last posted its earnings results on Wednesday, April 20th. The basic materials company reported $6.02 earnings per share for the quarter, topping analysts’ consensus estimates of $5.58 by $0.44. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Steel Dynamics had a net margin of 19.02% and a return on equity of 69.88%. The company’s revenue was up 57.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.10 earnings per share. Equities research analysts expect that Steel Dynamics, Inc. will post 21.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be paid a $0.34 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $1.36 annualized dividend and a dividend yield of 1.65%. Steel Dynamics’s dividend payout ratio is 7.02%.
Several hedge funds and other institutional investors have recently made changes to their positions in STLD. Rational Advisors LLC acquired a new position in shares of Steel Dynamics during the fourth quarter valued at about $25,000. Citizens National Bank Trust Department bought a new stake in shares of Steel Dynamics during the fourth quarter worth about $25,000. Allegheny Financial Group LTD bought a new stake in shares of Steel Dynamics during the fourth quarter worth about $27,000. UMB Bank N A MO bought a new stake in shares of Steel Dynamics during the fourth quarter worth about $27,000. Finally, Riverview Trust Co bought a new stake in Steel Dynamics in the 1st quarter worth about $28,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.
A number of research analysts have commented on STLD shares. The Goldman Sachs Group downgraded Steel Dynamics from a “buy” rating to a “neutral” rating and lowered their target price for the company from $114.00 to $92.00 in a research note on Tuesday, May 31st. StockNews.com started coverage on Steel Dynamics in a research report on Thursday, March 31st. They issued a “buy” rating for the company. JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $95.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday, March 24th. Zacks Investment Research cut Steel Dynamics from a “strong-buy” rating to a “hold” rating and set a $82.00 price objective for the company. in a research report on Tuesday, May 24th. Finally, BMO Capital Markets upped their price objective on Steel Dynamics from $95.00 to $104.00 in a research note on Friday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $86.25.
Steel Dynamics Company Profile (Get Rating)
Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. 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; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.
- Get a free copy of the StockNews.com research report on Steel Dynamics (STLD)
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