Steel Dynamics, Inc. (NASDAQ:STLD) was the target of some unusual options trading on Friday. Stock investors acquired 4,971 call options on the stock. This represents an increase of 1,240% compared to the average volume of 371 call options.
Shares of Steel Dynamics (STLD) opened at $38.73 on Wednesday. The company has a market capitalization of $9,079.99, a price-to-earnings ratio of 15.09, a PEG ratio of 1.20 and a beta of 1.40. Steel Dynamics has a 52 week low of $32.15 and a 52 week high of $40.41. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.95 and a current ratio of 3.35.
Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.66. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the business posted $0.64 EPS. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. research analysts predict that Steel Dynamics will post 2.67 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in STLD. Toronto Dominion Bank purchased a new position in Steel Dynamics during the 2nd quarter valued at about $107,000. Steward Partners Investment Advisory LLC purchased a new position in Steel Dynamics during the 3rd quarter valued at about $112,000. Hefty Wealth Partners grew its holdings in Steel Dynamics by 76.1% during the 3rd quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock valued at $118,000 after buying an additional 1,477 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in Steel Dynamics by 80.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock valued at $123,000 after buying an additional 1,589 shares in the last quarter. Finally, Advisory Services Network LLC grew its holdings in Steel Dynamics by 2.3% during the 2nd quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock valued at $158,000 after buying an additional 101 shares in the last quarter. 83.45% of the stock is owned by institutional investors.
STLD has been the topic of several recent analyst reports. Bank of America raised their price objective on Steel Dynamics from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Cowen set a $43.00 price objective on Steel Dynamics and gave the company a “buy” rating in a research note on Friday, October 20th. Citigroup raised their price objective on Steel Dynamics from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Jefferies Group restated a “buy” rating and set a $43.00 price objective on shares of Steel Dynamics in a research note on Thursday, August 31st. Finally, KeyCorp restated a “buy” rating and set a $44.00 price objective on shares of Steel Dynamics in a research note on Friday, November 24th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $41.70.
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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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