Steel Dynamics, Inc. (NASDAQ:STLD) saw a large decrease in short interest in December. As of December 15th, there was short interest totalling 11,112,468 shares, a decrease of 12.0% from the November 30th total of 12,621,020 shares. Currently, 4.8% of the company’s stock are short sold. Based on an average daily volume of 4,245,674 shares, the short-interest ratio is presently 2.6 days.
In other news, Director Keith E. Busse sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $27.33, for a total transaction of $54,660.00. Following the sale, the director now owns 1,004,923 shares in the company, valued at approximately $27,464,545.59. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale boosted its position in shares of Steel Dynamics by 181.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,496 shares of the company’s stock valued at $113,000 after buying an additional 2,896 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of Steel Dynamics by 54.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,800 shares of the company’s stock valued at $118,000 after buying an additional 1,700 shares during the period. Acrospire Investment Management LLC boosted its position in shares of Steel Dynamics by 137.5% in the second quarter. Acrospire Investment Management LLC now owns 5,699 shares of the company’s stock valued at $140,000 after buying an additional 3,299 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Steel Dynamics by 1,676.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,843 shares of the company’s stock valued at $143,000 after buying an additional 5,514 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in shares of Steel Dynamics by 991.5% in the second quarter. Loomis Sayles & Co. L P now owns 7,029 shares of the company’s stock valued at $172,000 after buying an additional 6,385 shares during the period. Institutional investors own 80.14% of the company’s stock.
A number of research analysts recently weighed in on the company. Credit Suisse Group set a $33.00 target price on Steel Dynamics and gave the stock a “buy” rating in a report on Saturday, October 8th. Zacks Investment Research raised Steel Dynamics from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday. Jefferies Group reissued a “buy” rating and set a $45.00 target price (up from $32.00) on shares of Steel Dynamics in a report on Tuesday, December 13th. BMO Capital Markets reissued a “buy” rating on shares of Steel Dynamics in a report on Thursday, October 20th. Finally, Macquarie lowered Steel Dynamics from an “outperform” rating to a “neutral” rating and set a $35.00 target price on the stock. in a report on Tuesday, November 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $32.53.
Steel Dynamics (NASDAQ:STLD) opened at 35.58 on Friday. The firm has a 50-day moving average price of $36.05 and a 200 day moving average price of $28.15. Steel Dynamics has a 52-week low of $15.32 and a 52-week high of $40.17. The company has a market capitalization of $8.67 billion, a P/E ratio of 80.14 and a beta of 1.46.
Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 19th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The firm earned $2.10 billion during the quarter, compared to the consensus estimate of $865.67 million. Steel Dynamics had a net margin of 1.46% and a return on equity of 14.52%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 earnings per share. On average, analysts predict that Steel Dynamics will post $1.92 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Saturday, December 31st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Wednesday, December 28th. Steel Dynamics’s dividend payout ratio (DPR) is presently 127.27%.
About Steel Dynamics