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) traded up 0.09% on Tuesday, hitting $33.83. The stock had a trading volume of 2,122,970 shares. The company has a 50 day moving average of $34.57 and a 200 day moving average of $34.92. Steel Dynamics has a 12-month low of $23.34 and a 12-month high of $40.17. The company has a market capitalization of $8.11 billion, a PE ratio of 15.54 and a beta of 1.26.
Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.63. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.58 earnings per share. On average, equities analysts expect that Steel Dynamics will post $2.79 earnings per share for the current year.
In other news, Director Keith E. Busse sold 4,965 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the completion of the sale, the director now owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher A. Graham sold 5,021 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total transaction of $191,049.05. Following the completion of the sale, the insider now owns 26,778 shares of the company’s stock, valued at approximately $1,018,902.90. The disclosure for this sale can be found here. 4.20% of the stock is owned by company insiders.
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A number of brokerages recently weighed in on STLD. Jefferies Group LLC restated a “buy” rating on shares of Steel Dynamics in a research report on Saturday. Citigroup Inc. dropped their target price on shares of Steel Dynamics from $43.00 to $41.00 and set a “buy” rating for the company in a research report on Friday. Morgan Stanley lowered shares of Steel Dynamics from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $45.00 to $33.00 in a research report on Tuesday, September 12th. Macquarie began coverage on shares of Steel Dynamics in a research report on Wednesday, September 6th. They set a “neutral” rating and a $36.00 target price for the company. Finally, Bank of America Corporation restated a “buy” rating and set a $44.00 target price (up previously from $42.00) on shares of Steel Dynamics in a research report on Tuesday, September 5th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $39.68.
Steel Dynamics Company Profile
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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