Steel Dynamics, Inc. (NASDAQ:STLD) – Equities research analysts at KeyCorp dropped their FY2019 EPS estimates for Steel Dynamics in a report issued on Sunday. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $3.40 per share for the year, down from their prior forecast of $3.45. KeyCorp has a “Buy” rating and a $49.00 price target on the stock.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. ValuEngine downgraded shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 29th. Credit Suisse Group raised their price target on shares of Steel Dynamics from $43.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Cowen set a $60.00 price target on shares of Steel Dynamics and gave the stock a “buy” rating in a research note on Monday, February 5th. Finally, BidaskClub raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Tuesday, December 12th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $47.47.
Steel Dynamics (STLD) traded up $0.86 during trading hours on Tuesday, hitting $46.29. 775,124 shares of the stock traded hands, compared to its average volume of 2,753,225. The company has a current ratio of 4.04, a quick ratio of 2.29 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $10,786.10, a P/E ratio of 13.77, a P/E/G ratio of 0.90 and a beta of 1.27. Steel Dynamics has a 12-month low of $32.15 and a 12-month high of $50.70.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, January 22nd. The basic materials company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.05. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.17 billion. Steel Dynamics had a net margin of 8.52% and a return on equity of 21.48%.
Hedge funds have recently modified their holdings of the business. UBS Asset Management Americas Inc. raised its stake 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 worth $61,751,000 after purchasing an additional 797,142 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of 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 acquiring an additional 16,071 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Steel Dynamics by 13.2% during the third quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock valued at $159,217,000 after acquiring an additional 539,480 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Steel Dynamics by 11.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 393,331 shares of the basic materials company’s stock valued at $16,965,000 after acquiring an additional 39,951 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new stake in shares of Steel Dynamics during the third quarter valued at about $944,000. 85.42% of the stock is currently owned by institutional investors.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Saturday, March 31st will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.16. This represents a $0.75 dividend on an annualized basis and a yield of 1.62%. Steel Dynamics’s payout ratio is 18.40%.
Steel Dynamics Company Profile
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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