Steel Dynamics (NASDAQ:STLD – Get Free Report) released its quarterly earnings results on Tuesday. The basic materials company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.54 by $0.13, Briefing.com reports. The firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.01 EPS.
Steel Dynamics Trading Down 1.6 %
Shares of Steel Dynamics stock traded down $2.16 on Wednesday, hitting $132.00. 703,073 shares of the company traded hands, compared to its average volume of 1,174,637. The company has a market cap of $20.85 billion, a PE ratio of 9.57 and a beta of 1.42. The stock’s 50 day moving average price is $136.80 and its 200-day moving average price is $121.97. The company has a current ratio of 2.91, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. Steel Dynamics has a 52 week low of $90.55 and a 52 week high of $151.34.
Steel Dynamics Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s payout ratio is currently 12.61%.
Analysts Set New Price Targets
Read Our Latest Report on STLD
Steel Dynamics Company Profile
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.
See Also
- Five stocks we like better than Steel Dynamics
- The Significance of Brokerage Rankings in Stock Selection
- Pagaya Technologies: An AI Fintech That Insiders Are Buying
- Investing in Construction Stocks
- Higher Oil Prices Could Give NextEra’s Stock Earnings a Boost
- Want to Profit on the Downtrend? Downtrends, Explained.
- GE Aerospace is Ready for Liftoff After Strong Earnings
Receive News & Ratings for Steel Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.