Steel Dynamics Inc. (STLD) Hits New 12-Month High at $28.01
Steel Dynamics Inc. (NASDAQ:STLD) hit a new 52-week high on Monday . The stock traded as high as $28.01 and last traded at $27.80, with a volume of 1,830,003 shares traded. The stock had previously closed at $27.85.
Several equities research analysts have recently weighed in on the company. Barclays PLC reissued an “overweight” rating and set a $28.00 target price (up previously from $27.00) on shares of Steel Dynamics in a research report on Tuesday, July 12th. Zacks Investment Research raised Steel Dynamics from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Thursday, July 7th. Jefferies Group reaffirmed a “buy” rating and set a $31.00 price target (up previously from $28.00) on shares of Steel Dynamics in a research report on Friday, June 10th. Credit Suisse Group AG lifted their price target on Steel Dynamics from $27.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 8th. Finally, Rosenblatt Securities started coverage on Steel Dynamics in a research report on Wednesday, June 1st. They set a “buy” rating and a $21.00 price target on the stock. One analyst has rated the stock with a sell rating and nineteen have issued a buy rating to the stock. Steel Dynamics currently has an average rating of “Buy” and a consensus target price of $26.21.
The stock has a 50-day moving average of $25.55 and a 200 day moving average of $21.97. The stock’s market capitalization is $6.76 billion.
Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, April 20th. The company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.02. The company earned $1.70 billion during the quarter, compared to analyst estimates of $1.70 billion. Steel Dynamics’s revenue for the quarter was down 15.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. Equities analysts predict that Steel Dynamics Inc. will post $2.04 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 14th. Investors of record on Thursday, June 30th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Tuesday, June 28th.
Other institutional investors recently made changes to their positions in the company. Sawtooth Asset Management Inc. raised its position in shares of Steel Dynamics by 8,296.5% in the fourth quarter. Sawtooth Asset Management Inc. now owns 56,928 shares of the company’s stock worth $1,017,000 after buying an additional 56,250 shares during the last quarter. Engineers Gate Manager LP raised its position in shares of Steel Dynamics by 291.4% in the fourth quarter. Engineers Gate Manager LP now owns 59,654 shares of the company’s stock worth $1,066,000 after buying an additional 44,414 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in shares of Steel Dynamics during the fourth quarter worth $1,068,000. BOKF NA raised its position in shares of Steel Dynamics by 0.5% in the fourth quarter. BOKF NA now owns 67,732 shares of the company’s stock worth $1,210,000 after buying an additional 322 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of 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 worth $1,254,000 after buying an additional 317 shares during the last quarter.
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