Steel Dynamics (NASDAQ:STLD) Posts Earnings Results
Steel Dynamics (NASDAQ:STLD) issued its quarterly earnings data on Monday. The basic materials company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02), RTT News reports. Steel Dynamics had a return on equity of 33.56% and a net margin of 10.26%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the business earned $1.53 earnings per share. The business’s quarterly revenue was down 10.4% on a year-over-year basis.
NASDAQ STLD opened at $31.84 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 4.02. The company has a market cap of $7.09 billion, a price-to-earnings ratio of 5.80, a PEG ratio of 0.82 and a beta of 1.55. The stock’s 50 day moving average price is $28.97. Steel Dynamics has a 52 week low of $25.02 and a 52 week high of $49.70.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Sunday, June 30th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.96 annualized dividend and a dividend yield of 3.01%. Steel Dynamics’s dividend payout ratio (DPR) is presently 17.49%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in Steel Dynamics during the fourth quarter worth about $146,724,000. Millennium Management LLC boosted its stake in shares of Steel Dynamics by 114.3% in the fourth quarter. Millennium Management LLC now owns 2,741,986 shares of the basic materials company’s stock valued at $82,369,000 after purchasing an additional 1,462,216 shares during the period. LSV Asset Management boosted its stake in shares of Steel Dynamics by 293.0% in the first quarter. LSV Asset Management now owns 1,138,474 shares of the basic materials company’s stock valued at $40,153,000 after purchasing an additional 848,774 shares during the period. BlackRock Inc. boosted its stake in shares of Steel Dynamics by 3.4% in the first quarter. BlackRock Inc. now owns 24,696,468 shares of the basic materials company’s stock valued at $871,044,000 after purchasing an additional 802,211 shares during the period. Finally, APG Asset Management N.V. boosted its stake in shares of Steel Dynamics by 121.7% in the fourth quarter. APG Asset Management N.V. now owns 1,236,237 shares of the basic materials company’s stock valued at $32,486,000 after purchasing an additional 678,580 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.
A number of research firms recently commented on STLD. Credit Suisse Group raised shares of Vipshop from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 23rd. ValuEngine lowered shares of Vereit from a “buy” rating to a “hold” rating in a report on Friday. Deutsche Bank reiterated a “hold” rating on shares of Steel Dynamics in a report on Thursday, June 27th. Macquarie set a $36.00 price objective on shares of Steel Dynamics and gave the company a “hold” rating in a report on Tuesday, April 23rd. Finally, Bank of America set a $77.00 price objective on shares of Zscaler and gave the company a “neutral” rating in a report on Friday, May 31st. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Steel Dynamics presently has an average rating of “Buy” and a consensus target price of $42.54.
About Steel Dynamics
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.
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