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Steel Dynamics (NASDAQ:STLD - Get Rating) issued an update on its second quarter 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $6.61-$6.65 for the period, compared to the consensus EPS estimate of $5.73. The company issued revenue guidance of -.

STLD has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price target on shares of Steel Dynamics from $129.00 to $110.00 in a report on Tuesday. BMO Capital Markets boosted their target price on Steel Dynamics from $95.00 to $104.00 in a research note on Friday, April 22nd. The Goldman Sachs Group downgraded Steel Dynamics from a buy rating to a neutral rating and cut their price target for the stock from $114.00 to $92.00 in a research note on Tuesday, May 31st. Finally, StockNews.com started coverage on Steel Dynamics in a research note on Thursday, March 31st. They issued a buy rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Steel Dynamics presently has a consensus rating of Hold and a consensus price target of $85.86.

Shares of NASDAQ STLD traded down $1.41 during mid-day trading on Thursday, hitting $70.64. The company had a trading volume of 32,544 shares, compared to its average volume of 2,352,740. The company has a current ratio of 3.42, a quick ratio of 1.74 and a debt-to-equity ratio of 0.45. Steel Dynamics has a 1 year low of $50.54 and a 1 year high of $100.37. The company has a market capitalization of $13.33 billion, a price-to-earnings ratio of 3.72 and a beta of 1.30. The stock's 50-day moving average price is $82.49 and its 200-day moving average price is $72.06.

Steel Dynamics (NASDAQ:STLD - Get Rating) last posted its earnings results on Wednesday, April 20th. The basic materials company reported $6.02 earnings per share for the quarter, beating analysts' consensus estimates of $5.58 by $0.44. Steel Dynamics had a return on equity of 69.88% and a net margin of 19.02%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the previous year, the firm earned $2.10 EPS. The company's quarterly revenue was up 57.1% compared to the same quarter last year. As a group, equities research analysts forecast that Steel Dynamics will post 21.52 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Wednesday, June 29th. Steel Dynamics's dividend payout ratio is presently 7.02%.

Steel Dynamics declared that its Board of Directors has approved a stock buyback plan on Monday, February 28th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the basic materials company to repurchase up to 8.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

In other news, Director Keith E. Busse sold 5,040 shares of the company's stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $83.51, for a total value of $420,890.40. Following the transaction, the director now owns 724,034 shares of the company's stock, valued at $60,464,079.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Zullo Investment Group Inc. purchased a new position in shares of Steel Dynamics during the fourth quarter worth about $95,000. Mather Group LLC. bought a new stake in Steel Dynamics during the first quarter worth about $209,000. Kingsview Wealth Management LLC purchased a new position in shares of Steel Dynamics in the 4th quarter worth about $212,000. Forum Financial Management LP bought a new position in shares of Steel Dynamics during the 4th quarter valued at about $258,000. Finally, XTX Topco Ltd purchased a new position in shares of Steel Dynamics during the 1st quarter valued at about $258,000. Institutional investors and hedge funds own 83.19% of the company's stock.

Steel Dynamics Company Profile (Get Rating)

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.

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