Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock traders bought 7,973 call options on the company. This is an increase of approximately 203% compared to the typical volume of 2,632 call options.
Steel Dynamics Stock Up 0.2 %
Shares of STLD traded up $0.25 during midday trading on Tuesday, reaching $123.52. 1,382,253 shares of the stock were exchanged, compared to its average volume of 1,865,106. The company has a market cap of $18.81 billion, a price-to-earnings ratio of 11.18 and a beta of 1.36. The firm has a 50 day simple moving average of $130.87 and a 200-day simple moving average of $126.54. Steel Dynamics has a 12-month low of $104.60 and a 12-month high of $155.56. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the firm posted $3.47 EPS. The company's revenue was down 5.4% on a year-over-year basis. Research analysts forecast that Steel Dynamics will post 10.09 EPS for the current year.
Steel Dynamics Dividend Announcement
The business also recently declared 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 1.49%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics's dividend payout ratio is 16.65%.
Analyst Ratings Changes
A number of research analysts recently commented on the company. The Goldman Sachs Group started coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 price objective on the stock. UBS Group restated a "neutral" rating and issued a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. BNP Paribas upgraded shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a research note on Friday, January 3rd. Bank of America raised Steel Dynamics from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Finally, Jefferies Financial Group dropped their target price on shares of Steel Dynamics from $145.00 to $125.00 and set a "hold" rating on the stock in a research report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Steel Dynamics has an average rating of "Hold" and a consensus target price of $141.13.
View Our Latest Research Report on STLD
Insider Buying and Selling
In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the company's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the sale, the senior vice president now owns 21,101 shares in the company, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Miguel Alvarez sold 6,650 shares of the firm's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the sale, 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 disclosure for this sale can be found here. Insiders sold 28,591 shares of company stock valued at $3,885,938 over the last quarter. 6.00% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. Financial Enhancement Group LLC acquired a new position in Steel Dynamics in the fourth quarter valued at about $225,000. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Steel Dynamics by 11.2% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,497 shares of the basic materials company's stock worth $285,000 after acquiring an additional 252 shares in the last quarter. Oak Thistle LLC bought a new stake in Steel Dynamics during the 4th quarter worth approximately $1,725,000. Accurate Wealth Management LLC increased its holdings in Steel Dynamics by 32.0% during the 4th quarter. Accurate Wealth Management LLC now owns 7,553 shares of the basic materials company's stock valued at $879,000 after purchasing an additional 1,832 shares in the last quarter. Finally, Greenfield Savings Bank raised its position in Steel Dynamics by 4.8% in the 4th quarter. Greenfield Savings Bank now owns 12,895 shares of the basic materials company's stock valued at $1,471,000 after purchasing an additional 596 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.
About Steel Dynamics
(
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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