Posted by admin on Jul 19th, 2022

Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 5,580,000 shares, a drop of 27.2% from the June 15th total of 7,660,000 shares. Based on an average daily volume of 2,180,000 shares, the short-interest ratio is currently 2.6 days. Approximately 3.1% of the company’s shares are short sold.

A number of analysts recently commented on the company. The Goldman Sachs Group lowered Steel Dynamics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $114.00 to $92.00 in a research note on Tuesday, May 31st. UBS Group set a $95.00 price target on Steel Dynamics in a research note on Monday, June 20th. StockNews.com assumed coverage on Steel Dynamics in a research note on Thursday, March 31st. They issued a “buy” rating for the company. JPMorgan Chase & Co. lowered their price objective on Steel Dynamics from $129.00 to $110.00 in a research report on Tuesday, June 14th. Finally, Morgan Stanley lowered their price objective on Steel Dynamics from $94.00 to $78.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

In related news, Director Keith E. Busse sold 5,040 shares of the firm’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $83.51, for a total value of $420,890.40. Following the completion of the sale, the director now owns 724,034 shares of the company’s stock, valued at $60,464,079.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.40% of the company’s stock.

Large investors have recently modified their holdings of the stock. Riverview Trust Co purchased a new position in shares of Steel Dynamics in the 1st quarter worth about $28,000. Rational Advisors LLC bought a new stake in Steel Dynamics in the 4th quarter worth about $25,000. Citizens National Bank Trust Department bought a new stake in Steel Dynamics in the 4th quarter worth about $25,000. UMB Bank N A MO bought a new stake in Steel Dynamics in the 4th quarter worth about $27,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Steel Dynamics in the 1st quarter worth about $36,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

STLD opened at $67.71 on Tuesday. The stock has a 50-day moving average price of $73.61 and a 200-day moving average price of $73.25. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.42 and a quick ratio of 1.74. The firm has a market cap of $12.78 billion, a PE ratio of 3.50 and a beta of 1.38. Steel Dynamics has a 1 year low of $50.54 and a 1 year high of $100.37.

Steel Dynamics (NASDAQ:STLD – Get Rating) last posted its quarterly earnings results on Wednesday, April 20th. The basic materials company reported $6.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.58 by $0.44. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.35 billion. Steel Dynamics had a return on equity of 69.88% and a net margin of 19.02%. Steel Dynamics’s quarterly revenue was up 57.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.10 EPS. Sell-side analysts predict that Steel Dynamics will post 19.77 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Wednesday, June 29th. Steel Dynamics’s dividend payout ratio is presently 7.02%.

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 roll, cold roll, 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; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.

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