Steel Dynamics, Inc. (NASDAQ:STLD) declared a quarterly dividend on Tuesday, September 19th, RTT News reports. Stockholders of record on Saturday, September 30th will be given a dividend of 0.155 per share by the basic materials company on Thursday, October 12th. This represents a $0.62 annualized dividend and a dividend yield of 1.83%.
Steel Dynamics (NASDAQ STLD) opened at 34.30 on Wednesday. Steel Dynamics has a 12-month low of $23.34 and a 12-month high of $40.17. The stock’s 50 day moving average price is $34.53 and its 200 day moving average price is $34.91. The company has a market cap of $8.23 billion, a PE ratio of 15.76 and a beta of 1.26.
Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, July 19th. The basic materials company reported $0.63 EPS for the quarter, hitting the consensus estimate of $0.63. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter last year, the firm posted $0.58 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. Equities research analysts anticipate that Steel Dynamics will post $2.79 EPS for the current year.
STLD has been the subject of several recent analyst reports. Citigroup Inc. decreased their target price on Steel Dynamics from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, September 15th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Steel Dynamics in a research note on Saturday. Morgan Stanley reiterated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, July 18th. Berenberg Bank reiterated a “buy” rating and issued a $46.00 price target on shares of Steel Dynamics in a report on Monday, June 19th. Finally, BidaskClub lowered Steel Dynamics from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $39.68.
In related news, Director Keith E. Busse sold 4,965 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total transaction of $190,755.30. Following the completion of the sale, the director now directly owns 1,005,666 shares of the company’s stock, valued at $38,637,687.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher A. Graham sold 5,021 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total value of $191,049.05. Following the sale, the insider now directly owns 26,778 shares of the company’s stock, valued at $1,018,902.90. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.
About Steel Dynamics
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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