In yesterday’s Wall Street session, Steel Dynamics Inc. (NASDAQ:STLD) shares traded at $107.00, up 0.39% from the previous session.
As of this writing, 14 analysts cover Steel Dynamics Inc. (NASDAQ:STLD). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $130.00 and a low of $69.00, we find $114.40. Given the previous closing price of $106.58, this indicates a potential upside of 7.34 percent. STLD stock price is now 4.60% away from the 50-day moving average and 1.22% away from the 200-day moving average. The market capitalization of the company currently stands at $17.86B.
There are 10 analysts who have given it a hold rating, whereas 2 have given it a buy rating. Brokers who have rated the stock have averaged $107.13 as their price target over the next twelve months.
With the price target maintained at $102, Exane BNP Paribas recently Downgraded its rating from Outperform to Neutral for Steel Dynamics Inc. (NASDAQ: STLD).
In other news, MARCUCCILLI JAMES C, Director sold 2,500 shares of the company’s stock on Dec 02. The stock was sold for $272,250 at an average price of $108.90. Upon completion of the transaction, the Director now directly owns 82,965 shares in the company, valued at $8.88 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 25, Director BUSSE KEITH E sold 244 shares of the business’s stock. A total of $23,303 was realized by selling the stock at an average price of $95.50. This leaves the insider owning 701,704 shares of the company worth $75.08 million. Insiders disposed of 621,143 shares of company stock worth roughly $66.46 million over the past 1 year. A total of 5.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in STLD stock. A new stake in Steel Dynamics Inc. shares was purchased by VINVA INVESTMENT MANAGEMENT LTD during the first quarter worth $7,891,000. NINETY ONE UK LTD invested $7,812,000 in shares of STLD during the first quarter. In the first quarter, EA SERIES TRUST acquired a new stake in Steel Dynamics Inc. valued at approximately $7,122,000. PINEBRIDGE INVESTMENTS, L.P. acquired a new stake in STLD for approximately $6,262,000. BORNITE CAPITAL MANAGEMENT LP purchased a new stake in STLD valued at around $5,350,000 in the second quarter. In total, there are 1,062 active investors with 85.70% ownership of the company’s stock.
Tuesday morning saw Steel Dynamics Inc. (NASDAQ: STLD) opened at $103.99. During the past 12 months, Steel Dynamics Inc. has had a low of $69.12 and a high of $136.46. As of last week, the company has a debt-to-equity ratio of 0.37, a current ratio of 4.20, and a quick ratio of 2.50. According to the stock market information, the enterprise value for the company is $19.07B, which is based on a 6.24 price-to-earnings ratio, a 0.22 price-to-earnings-growth ratio, and a beta of 1.52. The fifty day moving average price for STLD is $102.48 and a two-hundred day moving average price translates $105.85 for the stock.
The latest earnings results from Steel Dynamics Inc. (NASDAQ: STLD) was released for Jun, 2023. According to the Steel Company, earnings per share came in at $4.81, inline with analysts’ expectations of $4.81. This compares to $5.73 EPS in the same period last year. The net profit margin was 18.90% and return on equity was 48.20% for STLD. The company reported revenue of $4.89 billion for the quarter, compared to $5.57 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -12.15 percent. For the current quarter, analysts expect STLD to generate $4.73B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/14/2023. Investors who held shares on 06/30/2023 were paid a $0.425 dividend. On an annualized basis, this represents a $1.70 dividend and a 1.59% percent yield. There was an ex-dividend date of 06/29/2023 for this dividend. In terms of dividend payout ratio, STLD is presently at 6.50%.
Steel Dynamics Inc.(STLD) Company Profile
Steel Dynamics, Inc., together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products. This segment also engages in turning, polishing, straightening, chamfering, threading, precision saw-cutting, and heat treating of bar products. Its products are used in construction, automotive, manufacturing, transportation, heavy and agriculture equipment, and pipe and tube markets. The Metals Recycling Operations segment is involved in the ferrous and nonferrous scrap metal processing, transportation, marketing, brokerage, and scrap management services. Its ferrous products include heavy melting steel, busheling, bundled scrap, shredded scrap, steel turnings, and cast-iron products; and nonferrous products comprise aluminum, brass, copper, stainless steel, and other nonferrous metals. The Steel Fabrication Operations segment produces steel non-residential building components, such as steel joists, girders, trusses, and steel deck products for non-residential steel fabricators, metal building companies, general construction contractors, developers, owners, brokers, governmental entities, and e-commerce data centers and warehouses. The company also exports its products. Steel Dynamics, Inc. was founded in 1993 and is headquartered in Fort Wayne, Indiana.
