Steel Dynamics, Inc. (NASDAQ:STLD) Short Interest Up 20.0% in February

Steel Dynamics, Inc. (NASDAQ:STLD) was the recipient of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 4,434,070 shares, a growth of 20.0% from the January 29th total of 3,693,970 shares. Based on an average daily volume of 1,560,670 shares, the short-interest ratio is currently 2.8 days. Currently, 3.2% of the shares of the stock are sold short. Currently, 3.2% of the shares of the stock are sold short. Based on an average daily volume of 1,560,670 shares, the short-interest ratio is currently 2.8 days.

Institutional Investors Weigh In On Steel Dynamics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its position in shares of Steel Dynamics by 864.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 733 shares of the basic materials company’s stock valued at $124,000 after acquiring an additional 657 shares during the last quarter. SG Trading Solutions LLC acquired a new position in Steel Dynamics during the fourth quarter worth $241,000. Virtu Financial LLC bought a new stake in Steel Dynamics during the fourth quarter worth $1,021,000. MV Capital Management Inc. acquired a new stake in Steel Dynamics in the fourth quarter valued at $27,000. Finally, Dorsey Wright & Associates bought a new position in shares of Steel Dynamics in the 4th quarter valued at about $267,000. 82.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on STLD. JPMorgan Chase & Co. upped their price objective on shares of Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Wells Fargo & Company increased their price target on Steel Dynamics from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. Jefferies Financial Group boosted their price objective on Steel Dynamics from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Finally, UBS Group set a $165.00 price target on Steel Dynamics in a report on Tuesday, November 4th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $184.22.

Steel Dynamics Price Performance

Shares of STLD stock opened at $197.45 on Wednesday. The firm’s 50 day moving average price is $183.30 and its two-hundred day moving average price is $161.27. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06. Steel Dynamics has a 52-week low of $103.17 and a 52-week high of $208.47. The stock has a market cap of $28.61 billion, a PE ratio of 24.65, a PEG ratio of 0.54 and a beta of 1.43.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.72 by $0.10. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.62 billion. During the same quarter in the previous year, the company posted $1.36 EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, analysts forecast that Steel Dynamics will post 9.01 EPS for the current year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be given a $0.53 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.12 annualized dividend and a dividend yield of 1.1%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s payout ratio is presently 24.97%.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.