Steel Dynamics Inc. (STLD) Shares Down 5.7%
Steel Dynamics Inc. (NASDAQ:STLD) shares were down 5.7% during mid-day trading on Tuesday . The company traded as low as $26.28 and last traded at $26.38, with a volume of 3,255,062 shares trading hands. The stock had previously closed at $27.98.
A number of research analysts have issued reports on STLD shares. Credit Suisse Group AG lifted their target price on Steel Dynamics from $27.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, June 8th. Deutsche Bank AG reiterated a “buy” rating and issued a $25.00 target price (up previously from $23.00) on shares of Steel Dynamics in a research report on Wednesday, March 23rd. Macquarie lifted their target price on Steel Dynamics from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, April 22nd. Zacks Investment Research cut Steel Dynamics from a “buy” rating to a “hold” rating in a report on Friday, July 1st. Finally, Cowen and Company restated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, May 17th. One research analyst has rated the stock with a sell rating and nineteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $26.21.
The stock’s market capitalization is $6.54 billion. The company’s 50 day moving average is $25.65 and its 200-day moving average is $22.11.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, July 18th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. During the same quarter in the previous year, the business earned $0.22 earnings per share. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.03 billion. Analysts expect that Steel Dynamics Inc. will post $2.04 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 14th. Investors of record on Thursday, June 30th were given a dividend of $0.14 per share. The ex-dividend date was Tuesday, June 28th. This represents a $0.56 annualized dividend and a yield of 2.09%.
A number of institutional investors recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. bought a new position in Steel Dynamics during the fourth quarter valued at about $1,068,000. Sawtooth Asset Management Inc. raised its position in Steel Dynamics by 8,296.5% in the fourth quarter. Sawtooth Asset Management Inc. now owns 56,928 shares of the company’s stock valued at $1,017,000 after buying an additional 56,250 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Steel Dynamics by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 70,198 shares of the company’s stock valued at $1,254,000 after buying an additional 317 shares during the last quarter. UBS Oconnor LLC raised its position in Steel Dynamics by 1.9% in the fourth quarter. UBS Oconnor LLC now owns 916,715 shares of the company’s stock valued at $16,382,000 after buying an additional 17,367 shares during the last quarter. Finally, BOKF NA raised its position in Steel Dynamics by 0.5% in the fourth quarter. BOKF NA now owns 67,732 shares of the company’s stock valued at $1,210,000 after buying an additional 322 shares during the last quarter.
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