Steel Dynamics, Inc. (NASDAQ:STLD) Sees Large Growth in Short Interest

Steel Dynamics, Inc. (NASDAQ:STLD) saw a significant increase in short interest in July. As of July 15th, there was short interest totalling 4,940,000 shares, an increase of 10.0% from the June 30th total of 4,490,000 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average trading volume of 2,010,000 shares, the short-interest ratio is currently 2.5 days.

Shares of NASDAQ:STLD opened at $27.41 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.20 and a current ratio of 3.60. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 1.06 and a beta of 1.44. The business has a 50-day simple moving average of $26.61 and a two-hundred day simple moving average of $26.01. Steel Dynamics has a fifty-two week low of $14.98 and a fifty-two week high of $35.78.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Monday, July 20th. The basic materials company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.06 billion. Steel Dynamics had a net margin of 5.60% and a return on equity of 14.53%. The business’s revenue for the quarter was down 24.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 earnings per share. As a group, research analysts predict that Steel Dynamics will post 2.15 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Monday, June 29th. Steel Dynamics’s dividend payout ratio (DPR) is presently 32.26%.

Several equities research analysts recently issued reports on the company. KeyCorp lifted their price objective on Steel Dynamics from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. UBS Group dropped their target price on shares of Steel Dynamics from $43.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. BidaskClub upgraded shares of Steel Dynamics from a “strong sell” rating to a “sell” rating in a research report on Friday, May 22nd. Deutsche Bank upped their target price on shares of Steel Dynamics from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, TheStreet downgraded Steel Dynamics from a “b-” rating to a “c+” rating in a research report on Wednesday, July 8th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Steel Dynamics has a consensus rating of “Hold” and a consensus target price of $31.18.

Institutional investors and hedge funds have recently made changes to their positions in the business. Verus Capital Partners LLC bought a new stake in shares of Steel Dynamics during the fourth quarter worth $36,000. Flagship Harbor Advisors LLC bought a new stake in Steel Dynamics during the 2nd quarter valued at about $54,000. First Quadrant L P CA purchased a new stake in Steel Dynamics in the 1st quarter valued at about $94,000. Synovus Financial Corp boosted its position in Steel Dynamics by 4,795.9% in the 1st quarter. Synovus Financial Corp now owns 4,749 shares of the basic materials company’s stock valued at $107,000 after buying an additional 4,652 shares during the period. Finally, Fifth Third Bancorp grew its stake in Steel Dynamics by 39.2% in the 1st quarter. Fifth Third Bancorp now owns 5,289 shares of the basic materials company’s stock worth $119,000 after acquiring an additional 1,489 shares in the last quarter. Institutional investors and hedge funds own 80.47% 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. 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; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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