Steel Dynamics Inc. (STLD) Updates Q3 Earnings Guidance
Steel Dynamics Inc. (NASDAQ:STLD) updated its third quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.63-0.67 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.70.
Several analysts have recently commented on the company. Barclays PLC restated an overweight rating and set a $28.00 target price (up previously from $27.00) on shares of Steel Dynamics in a report on Tuesday, July 12th. Bank of America Corp. cut Steel Dynamics from a buy rating to a neutral rating and set a $28.00 price target on the stock. in a report on Wednesday, July 20th. Cowen and Company raised their price target on Steel Dynamics from $30.00 to $33.00 and gave the company an outperform rating in a report on Wednesday, July 20th. Jefferies Group reiterated a buy rating and issued a $31.00 price target on shares of Steel Dynamics in a report on Wednesday, July 20th. Finally, Clarkson Capital reiterated a neutral rating and issued a $24.00 price target on shares of Steel Dynamics in a report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the stock. Steel Dynamics presently has a consensus rating of Buy and an average price target of $27.86.
Shares of Steel Dynamics Inc. (NASDAQ:STLD) traded up 3.45% during midday trading on Monday, reaching $24.30. The company had a trading volume of 3,926,262 shares. The stock’s 50 day moving average is $25.06 and its 200-day moving average is $24.52. The stock has a market capitalization of $5.92 billion, a PE ratio of 495.92 and a beta of 1.70. Steel Dynamics Inc. has a 12-month low of $15.32 and a 12-month high of $28.01.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Monday, July 18th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.02. The company earned $2.02 billion during the quarter, compared to analyst estimates of $2.03 billion. Steel Dynamics had a return on equity of 10.79% and a net margin of 0.17%. During the same quarter last year, the company earned $0.22 earnings per share. On average, equities research analysts predict that Steel Dynamics Inc. will post $2.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.30%. Steel Dynamics’s payout ratio is 1,120.00%.
In other Steel Dynamics news, Director Jurgen Dr Kolb sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $26.50, for a total transaction of $26,500.00. Following the sale, the director now owns 65,014 shares in the company, valued at $1,722,871. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith E. Busse sold 13,155 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $27.00, for a total value of $355,185.00. Following the sale, the director now owns 1,006,894 shares in the company, valued at approximately $27,186,138. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. TFS Capital LLC purchased a new stake in Steel Dynamics during the second quarter worth $370,000. Deere & Co. increased its stake in Steel Dynamics by 449.3% in the second quarter. Deere & Co. now owns 56,100 shares of the company’s stock worth $1,374,000 after buying an additional 45,887 shares during the last quarter. BlueMountain Capital Management LLC increased its stake in Steel Dynamics by 60.6% in the second quarter. BlueMountain Capital Management LLC now owns 83,318 shares of the company’s stock worth $2,041,000 after buying an additional 31,447 shares during the last quarter. Gideon Capital Advisors Inc. purchased a new stake in Steel Dynamics during the second quarter worth $303,000. Finally, Sei Investments Co. increased its stake in Steel Dynamics by 2,924.8% in the second quarter. Sei Investments Co. now owns 144,860 shares of the company’s stock worth $3,549,000 after buying an additional 140,071 shares during the last quarter. Institutional investors and hedge funds own 82.54% of the company’s stock.
Steel Dynamics Company Profile
Receive News & Ratings for Steel Dynamics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.