$2.75 Billion in Sales Expected for Steel Dynamics, Inc. (NASDAQ:STLD) This Quarter
Equities research analysts expect that Steel Dynamics, Inc. (NASDAQ:STLD) will post $2.75 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Steel Dynamics’ earnings, with the highest sales estimate coming in at $2.93 billion and the lowest estimate coming in at $2.55 billion. Steel Dynamics posted sales of $3.09 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 11%. The company is expected to announce its next earnings results after the market closes on Monday, July 22nd.
According to Zacks, analysts expect that Steel Dynamics will report full year sales of $10.91 billion for the current financial year, with estimates ranging from $10.30 billion to $11.49 billion. For the next year, analysts expect that the business will report sales of $10.88 billion, with estimates ranging from $10.23 billion to $11.58 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Steel Dynamics.
Steel Dynamics (NASDAQ:STLD) last released its earnings results on Monday, April 22nd. The basic materials company reported $0.91 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.91. The firm had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Steel Dynamics had a net margin of 10.26% and a return on equity of 33.56%. Steel Dynamics’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $0.96 EPS.
In other news, insider Glenn Pushis acquired 5,740 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was purchased at an average price of $26.13 per share, for a total transaction of $149,986.20. Following the completion of the acquisition, the insider now directly owns 91,289 shares in the company, valued at approximately $2,385,381.57. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gabriel Shaheen bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average cost of $27.03 per share, for a total transaction of $135,150.00. Following the transaction, the director now owns 58,635 shares of the company’s stock, valued at $1,584,904.05. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 12,740 shares of company stock valued at $336,296. 4.90% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Empirical Finance LLC boosted its position in Steel Dynamics by 1.1% in the second quarter. Empirical Finance LLC now owns 32,950 shares of the basic materials company’s stock worth $995,000 after purchasing an additional 363 shares during the last quarter. Magnus Financial Group LLC boosted its position in Steel Dynamics by 4.5% in the first quarter. Magnus Financial Group LLC now owns 9,299 shares of the basic materials company’s stock worth $328,000 after purchasing an additional 400 shares during the last quarter. Raymond James Trust N.A. boosted its position in Steel Dynamics by 5.9% in the first quarter. Raymond James Trust N.A. now owns 8,046 shares of the basic materials company’s stock worth $284,000 after purchasing an additional 449 shares during the last quarter. Wedge Capital Management L L P NC boosted its position in Steel Dynamics by 2.0% in the first quarter. Wedge Capital Management L L P NC now owns 24,062 shares of the basic materials company’s stock worth $849,000 after purchasing an additional 461 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Steel Dynamics by 4.3% in the first quarter. Assenagon Asset Management S.A. now owns 12,200 shares of the basic materials company’s stock worth $430,000 after purchasing an additional 500 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors.
Shares of STLD traded up $0.07 during mid-day trading on Wednesday, hitting $31.54. The company’s stock had a trading volume of 2,951,458 shares, compared to its average volume of 2,438,731. The company has a 50-day moving average of $28.59. The company has a market cap of $7.12 billion, a PE ratio of 5.74, a price-to-earnings-growth ratio of 0.82 and a beta of 1.55. The company has a debt-to-equity ratio of 0.61, a current ratio of 4.02 and a quick ratio of 2.15. Steel Dynamics has a fifty-two week low of $25.02 and a fifty-two week high of $49.70.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Sunday, June 30th were issued a $0.24 dividend. The ex-dividend date was Thursday, June 27th. This represents a $0.96 dividend on an annualized basis and a yield of 3.04%. Steel Dynamics’s payout ratio is currently 17.49%.
Steel Dynamics Company Profile
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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