Steel Dynamics (NASDAQ:STLD) Announces Earnings Results

Steel Dynamics (NASDAQ:STLD) posted its quarterly earnings results on Wednesday. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33), Zacks reports. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. During the same quarter in the previous year, the company posted $2.61 EPS.

Steel Dynamics Trading Down 1.4 %

NASDAQ STLD opened at $122.89 on Thursday. Steel Dynamics has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The company has a market capitalization of $18.71 billion, a price-to-earnings ratio of 11.12 and a beta of 1.36. The company’s fifty day moving average price is $127.92 and its two-hundred day moving average price is $126.41.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics’s payout ratio is 16.65%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares in the company, valued at $2,306,106. This represents a 10.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Miguel Alvarez sold 6,650 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the transaction, the senior vice president now owns 116,949 shares in the company, valued at $16,723,707. This trade represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,650 shares of company stock worth $1,498,170 in the last ninety days. 6.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective for the company. BMO Capital Markets increased their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Jefferies Financial Group dropped their price objective on shares of Steel Dynamics from $145.00 to $125.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Finally, UBS Group reissued a “neutral” rating and issued a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $140.88.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. 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 steel 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.