Steel Dynamics (STLD) Debt Trading 0.8% Lower

An issue of Steel Dynamics, Inc. (NASDAQ:STLD) debt fell 0.8% as a percentage of its face value during trading on Thursday. The high-yield issue of debt has a 4.125% coupon and will mature on September 15, 2025. The debt is now trading at $100.75. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.

Several analysts have recently issued reports on STLD shares. Morgan Stanley lowered shares of Steel Dynamics from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $45.00 to $33.00 in a research report on Tuesday, September 12th. Citigroup dropped their target price on shares of Steel Dynamics from $43.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, September 15th. Jefferies Group reiterated a “buy” rating on shares of Steel Dynamics in a research report on Saturday, September 16th. Longbow Research lowered shares of Steel Dynamics from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. Finally, KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a research report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. Steel Dynamics currently has an average rating of “Buy” and a consensus price target of $42.21.

Steel Dynamics, Inc. (STLD) opened at $45.60 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.35 and a quick ratio of 1.95. The firm has a market cap of $10,800.00, a PE ratio of 21.01, a PEG ratio of 1.26 and a beta of 1.40. Steel Dynamics, Inc. has a 52 week low of $32.15 and a 52 week high of $46.32.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. research analysts anticipate that Steel Dynamics, Inc. will post 2.65 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Sunday, December 31st will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Thursday, December 28th. Steel Dynamics’s dividend payout ratio is currently 28.57%.

A number of hedge funds have recently modified their holdings of the business. Prudential Financial Inc. raised its stake in Steel Dynamics by 13.2% during the third quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock worth $159,217,000 after purchasing an additional 539,480 shares during the period. Parametric Portfolio Associates LLC raised its stake in Steel Dynamics by 15.5% during the third quarter. Parametric Portfolio Associates LLC now owns 464,396 shares of the basic materials company’s stock worth $16,008,000 after purchasing an additional 62,393 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in Steel Dynamics during the third quarter worth about $112,000. Public Employees Retirement System of Ohio raised its stake in Steel Dynamics by 47.0% during the third quarter. Public Employees Retirement System of Ohio now owns 223,420 shares of the basic materials company’s stock worth $7,701,000 after purchasing an additional 71,461 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Steel Dynamics during the third quarter worth about $233,000. 83.38% of the stock is currently owned by institutional investors.

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Steel Dynamics Company Profile

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

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