Wall Street brokerages predict that Steel Dynamics, Inc. (NASDAQ:STLD) will announce $2.96 billion in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Steel Dynamics’ earnings. The highest sales estimate is $3.02 billion and the lowest is $2.84 billion. Steel Dynamics reported sales of $2.34 billion during the same quarter last year, which indicates a positive year over year growth rate of 26.5%. The company is expected to issue its next quarterly earnings results on Monday, January 28th.
On average, analysts expect that Steel Dynamics will report full-year sales of $11.90 billion for the current financial year, with estimates ranging from $11.76 billion to $11.97 billion. For the next financial year, analysts expect that the business will report sales of $11.95 billion, with estimates ranging from $11.15 billion to $12.92 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Steel Dynamics.
Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, October 17th. The basic materials company reported $1.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.04. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Steel Dynamics had a net margin of 11.49% and a return on equity of 31.96%. The business’s revenue for the quarter was up 31.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 EPS.
Shares of NASDAQ:STLD traded up $0.48 during trading on Friday, reaching $35.68. The company had a trading volume of 2,733,199 shares, compared to its average volume of 2,369,497. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.94 and a quick ratio of 2.17. Steel Dynamics has a 12 month low of $33.38 and a 12 month high of $52.10. The firm has a market capitalization of $8.08 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 0.53 and a beta of 1.34.
Steel Dynamics declared that its board has initiated a stock repurchase program on Tuesday, September 4th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the basic materials company to buy up to 6.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Monday, December 31st will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Friday, December 28th. Steel Dynamics’s payout ratio is currently 28.30%.
In related news, insider Christopher A. Graham sold 10,800 shares of the company’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $47.61, for a total value of $514,188.00. Following the completion of the sale, the insider now owns 26,087 shares in the company, valued at approximately $1,242,002.07. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard P. Teets, Jr. acquired 20,000 shares of the stock in a transaction that occurred on Wednesday, November 28th. The stock was purchased at an average price of $33.85 per share, with a total value of $677,000.00. Following the transaction, the director now owns 5,022,779 shares in the company, valued at $170,021,069.15. The disclosure for this purchase can be found here. 4.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Hartford Investment Management Co. bought a new stake in Steel Dynamics during the 2nd quarter valued at about $249,000. Acadian Asset Management LLC raised its stake in shares of Steel Dynamics by 28,038.0% during the second quarter. Acadian Asset Management LLC now owns 48,116 shares of the basic materials company’s stock worth $2,211,000 after purchasing an additional 47,945 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in Steel Dynamics during the second quarter worth $512,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Steel Dynamics by 6.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 807,851 shares of the basic materials company’s stock worth $37,121,000 after acquiring an additional 45,434 shares during the period. Finally, Jaffetilchin Investment Partners LLC acquired a new position in Steel Dynamics during the second quarter worth $475,000. Institutional investors own 84.01% of the company’s stock.
Steel Dynamics Company Profile
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.
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