Steel Dynamics (NASDAQ:STLD) Issues Quarterly Earnings Results

Steel Dynamics (NASDAQ:STLD) issued its quarterly earnings results on Monday. The basic materials company reported $5.26 EPS for the quarter, missing the consensus estimate of $5.47 by ($0.21), Zacks reports. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.

Steel Dynamics Stock Performance

NASDAQ:STLD traded up $4.63 during mid-day trading on Monday, hitting $245.17. 1,428,588 shares of the stock were exchanged, compared to its average volume of 1,195,710. The firm’s 50-day simple moving average is $238.98 and its 200 day simple moving average is $236.65. The stock has a market capitalization of $35.14 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48. Steel Dynamics has a fifty-two week low of $144.78 and a fifty-two week high of $288.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.53 per share. The ex-dividend date was Wednesday, September 30th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. Steel Dynamics’s dividend payout ratio (DPR) is 19.22%.

Analysts Set New Price Targets

Several brokerages recently issued reports on STLD. UBS Group raised their target price on shares of Steel Dynamics from $165.00 to $276.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Wall Street Zen lowered Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 20th. Wells Fargo & Company upped their price objective on Steel Dynamics from $255.00 to $257.00 and gave the company an “overweight” rating in a research note on Friday, September 18th. The Goldman Sachs Group initiated coverage on Steel Dynamics in a research report on Wednesday, July 29th. They issued a “buy” rating and a $300.00 price objective for the company. Finally, Weiss Ratings downgraded Steel Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, October 13th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $258.64.

About Steel Dynamics

Steel Dynamics, Inc is a steel producer and metals recycler headquartered in Fort Wayne, Indiana. The company manufactures steel products using electric arc furnace technology and serves customers across industries such as construction, automotive, manufacturing, and energy.

Its operations include the production of flat rolled steel, long steel products, structural steel, rail, and specialty products. Steel Dynamics also provides steel processing and fabrication services, including the manufacture of steel joists, deck systems, and other components used in commercial and industrial construction.

The company operates metals recycling facilities that collect, process, and supply ferrous and nonferrous scrap to support its steelmaking operations.