Key Points
- Steel Dynamics SVP James Stanley Anderson sold 10,000 shares on June 5 at an average price of $268.70, totaling about $2.69 million. After the sale, he still owned 102,837 shares.
- The stock was trading near its 52-week high, opening at $267.20, with a market cap of $38.67 billion. It has also run well above its 50-day and 200-day moving averages.
- Steel Dynamics recently reported quarterly EPS of $2.78, slightly below estimates, but revenue rose 19.1% year over year to $5.20 billion. The company also declared a quarterly dividend of $0.53 per share, payable July 10.
Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) SVP James Stanley Anderson sold 10,000 shares of the company's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the transaction, the senior vice president directly owned 102,837 shares in the company, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Steel Dynamics Stock Performance
Shares of STLD opened at $267.20 on Tuesday. The business's 50 day moving average is $222.85 and its two-hundred day moving average is $193.61. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $280.49. The firm has a market cap of $38.67 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 0.57 and a beta of 1.50. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the company earned $1.44 earnings per share. The business's revenue for the quarter was up 19.1% on a year-over-year basis. Analysts forecast that Steel Dynamics, Inc. will post 14.77 EPS for the current fiscal year.
Steel Dynamics Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics's dividend payout ratio is presently 22.67%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Weiss Ratings upgraded Steel Dynamics from a "hold (c)" rating to a "buy (b-)" rating in a report on Wednesday, April 29th. Jefferies Financial Group reiterated a "buy" rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Wells Fargo & Company boosted their price target on Steel Dynamics from $235.00 to $293.00 and gave the company an "overweight" rating in a report on Thursday. Barclays assumed coverage on Steel Dynamics in a report on Thursday, May 21st. They issued an "overweight" rating and a $270.00 price target for the company. Finally, Citigroup boosted their price target on Steel Dynamics from $180.00 to $255.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $224.64.
Get Our Latest Report on STLD
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Jacobi Capital Management LLC grew its position in Steel Dynamics by 1.6% in the 4th quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company's stock valued at $599,000 after buying an additional 55 shares in the last quarter. Optas LLC grew its position in Steel Dynamics by 3.0% in the 4th quarter. Optas LLC now owns 1,979 shares of the basic materials company's stock valued at $335,000 after buying an additional 58 shares in the last quarter. Hohimer Wealth Management LLC grew its position in Steel Dynamics by 1.1% in the 4th quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company's stock valued at $967,000 after buying an additional 61 shares in the last quarter. Wright Investors Service Inc. grew its position in Steel Dynamics by 1.2% in the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company's stock valued at $941,000 after buying an additional 64 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in Steel Dynamics by 2.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 2,396 shares of the basic materials company's stock valued at $431,000 after buying an additional 64 shares in the last quarter. Institutional investors own 82.41% of the company's stock.
Steel Dynamics Company Profile
(
Get Free Report)
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.
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