Steel Dynamics (STLD) Trading Down 0.4%

Steel Dynamics, Inc. (NASDAQ:STLD) shares were down 0.4% on Friday . The stock traded as low as $42.88 and last traded at $42.74. Approximately 1,759,083 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 2,729,042 shares. The stock had previously closed at $42.92.

Several research analysts have recently weighed in on STLD shares. BidaskClub upgraded Steel Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 6th. KeyCorp set a $49.00 price target on Steel Dynamics and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Bank of America set a $51.00 price target on Steel Dynamics and gave the stock a “buy” rating in a research note on Monday, January 8th. Cowen restated an “outperform” rating and issued a $60.00 price target (up previously from $53.00) on shares of Steel Dynamics in a research note on Wednesday, January 24th. Finally, Longbow Research upgraded Steel Dynamics from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $47.92.

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The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.29 and a current ratio of 4.04. The stock has a market cap of $10,953.71, a price-to-earnings ratio of 12.56, a PEG ratio of 0.94 and a beta of 1.27.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Monday, January 22nd. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.05. Steel Dynamics had a return on equity of 21.48% and a net margin of 8.52%. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.17 billion. equities analysts anticipate that Steel Dynamics, Inc. will post 4.14 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Saturday, March 31st will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 1.77%. The ex-dividend date is Wednesday, March 28th. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.16. Steel Dynamics’s payout ratio is currently 18.40%.

Large investors have recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. grew its holdings in Steel Dynamics by 125.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,431,743 shares of the basic materials company’s stock valued at $61,751,000 after purchasing an additional 797,142 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Steel Dynamics by 2.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 814,514 shares of the basic materials company’s stock valued at $28,077,000 after purchasing an additional 16,071 shares during the period. Prudential Financial Inc. boosted its stake in shares of Steel Dynamics by 13.2% in the third quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock worth $159,217,000 after acquiring an additional 539,480 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Steel Dynamics by 11.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 393,331 shares of the basic materials company’s stock worth $16,965,000 after acquiring an additional 39,951 shares during the period. Finally, Magnetar Financial LLC bought a new position in shares of Steel Dynamics in the third quarter worth about $944,000. 85.42% of the stock is owned by institutional investors and hedge funds.

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About Steel Dynamics

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

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