Steel Dynamics (NASDAQ:STLD) Shares Gap Down to $97.19

Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) gapped down prior to trading on Tuesday . The stock had previously closed at $97.19, but opened at $94.97. Steel Dynamics shares last traded at $92.15, with a volume of 231,162 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of Steel Dynamics from $85.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, January 30th. JPMorgan Chase & Co. initiated coverage on shares of Steel Dynamics in a research report on Tuesday. They set an “underweight” rating and a $82.00 price objective on the stock. StockNews.com assumed coverage on shares of Steel Dynamics in a report on Thursday, May 18th. They issued a “hold” rating for the company. Bank of America downgraded Steel Dynamics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $140.00 to $123.00 in a research report on Wednesday, April 5th. Finally, Credit Suisse Group boosted their price target on Steel Dynamics from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, April 21st. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Steel Dynamics presently has an average rating of “Hold” and a consensus price target of $107.63.

Steel Dynamics Stock Down 2.7 %

The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.51 and a current ratio of 4.15. The firm has a market capitalization of $15.76 billion, a PE ratio of 4.97 and a beta of 1.48. The company has a fifty day moving average price of $103.81 and a 200-day moving average price of $108.67.

Steel Dynamics (NASDAQ:STLD – Get Rating) last released its quarterly earnings data on Wednesday, April 19th. The basic materials company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.81 by $0.20. Steel Dynamics had a net margin of 15.73% and a return on equity of 47.68%. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.95 billion. During the same quarter last year, the business earned $6.02 earnings per share. Steel Dynamics’s quarterly revenue was down 12.1% compared to the same quarter last year. As a group, analysts expect that Steel Dynamics, Inc. will post 16.34 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Thursday, June 29th. Steel Dynamics’s dividend payout ratio is currently 9.05%.

Institutional Trading of Steel Dynamics

Institutional investors have recently bought and sold shares of the stock. CENTRAL TRUST Co lifted its holdings in shares of Steel Dynamics by 569.7% in the 1st quarter. CENTRAL TRUST Co now owns 221 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 188 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Steel Dynamics by 82.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 233 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 105 shares during the last quarter. Hanseatic Management Services Inc. purchased a new position in shares of Steel Dynamics during the first quarter valued at approximately $27,000. Wellington Shields & Co. LLC grew its stake in shares of Steel Dynamics by 50.0% during the fourth quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock valued at $29,000 after buying an additional 100 shares during the last quarter. Finally, Financial Management Professionals Inc. raised its holdings in shares of Steel Dynamics by 1,953.8% in the first quarter. Financial Management Professionals Inc. now owns 267 shares of the basic materials company’s stock worth $30,000 after buying an additional 254 shares during the period. 79.54% of the stock is currently owned by institutional investors.

About Steel Dynamics

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Steel Dynamics, Inc engages in the manufacture of steel products and metal recycling. It operates through the following segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment consists of sheet products including hot roll, cold roll, and coated steel, long products including structural steel beams, pilings, and standard and premium grade rail, and steel finishing services such as turning, polishing, straightening, chamfering, threading, and precision saw-cutting.