Steel Dynamics (NASDAQ:STLD) Shares Gap Up – What’s Next?

Steel Dynamics, Inc. (NASDAQ:STLDGet Free Report) gapped up before the market opened on Friday . The stock had previously closed at $122.37, but opened at $126.70. Steel Dynamics shares last traded at $123.36, with a volume of 152,472 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on STLD. The Goldman Sachs Group began coverage on Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target on the stock. Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $125.00 to $145.00 in a report on Friday. UBS Group reissued a “neutral” rating and issued a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Citigroup lowered their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Steel Dynamics currently has a consensus rating of “Hold” and a consensus target price of $143.38.

Get Our Latest Stock Report on STLD

Steel Dynamics Stock Performance

The firm’s 50-day moving average price is $127.27 and its two-hundred day moving average price is $126.38. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $18.63 billion, a PE ratio of 12.48 and a beta of 1.36.

Steel Dynamics (NASDAQ:STLDGet Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.25% and a net margin of 8.76%. During the same quarter in the previous year, the firm earned $2.61 EPS. As a group, research analysts predict that Steel Dynamics, Inc. will post 8.93 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is currently 18.78%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Steel Dynamics

A number of hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Steel Dynamics in the 3rd quarter valued at $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Steel Dynamics in the fourth quarter worth about $28,000. Private Trust Co. NA boosted its stake in shares of Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 245 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Steel Dynamics during the 3rd quarter worth about $61,000. Finally, Quest Partners LLC acquired a new position in shares of Steel Dynamics during the 3rd quarter valued at about $62,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Company Profile

(Get Free Report)

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.

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