Steel Dynamics, Inc. (NASDAQ:STLD) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 5,160,000 shares, a decrease of 16.5% from the August 30th total of 6,180,000 shares. Currently, 2.5% of the company’s stock are sold short. Based on an average trading volume of 2,250,000 shares, the days-to-cover ratio is currently 2.3 days.

Shares of STLD stock traded up $0.44 on Tuesday, reaching $30.08. 2,434,560 shares of the stock were exchanged, compared to its average volume of 2,368,395. The company has a current ratio of 4.35, a quick ratio of 2.40 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average price is $29.07 and its 200 day moving average price is $30.01. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 5.48, a PEG ratio of 0.82 and a beta of 1.66. Steel Dynamics has a twelve month low of $25.02 and a twelve month high of $42.00.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Monday, July 22nd. The basic materials company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02). The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.78 billion. Steel Dynamics had a return on equity of 28.50% and a net margin of 9.11%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 EPS. Equities research analysts forecast that Steel Dynamics will post 3.1 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.19%. Steel Dynamics’s payout ratio is currently 17.49%.

A number of analysts have recently weighed in on STLD shares. ValuEngine raised Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Friday. BidaskClub upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Saturday. Deutsche Bank reiterated a “hold” rating on shares of Steel Dynamics in a research note on Thursday, June 27th. Longbow Research downgraded shares of Steel Dynamics from a “buy” rating to a “neutral” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. set a $35.00 target price on shares of Steel Dynamics and gave the stock a “buy” rating in a research note on Monday, September 23rd. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $33.40.

In related news, SVP Miguel Alvarez acquired 8,920 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $27.72 per share, with a total value of $247,262.40. Following the completion of the transaction, the senior vice president now owns 700 shares of the company’s stock, valued at $19,404. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.90% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STLD. Kennedy Capital Management Inc. boosted its stake in Steel Dynamics by 46.8% in the first quarter. Kennedy Capital Management Inc. now owns 74,501 shares of the basic materials company’s stock valued at $2,628,000 after acquiring an additional 23,760 shares in the last quarter. Northern Trust Corp boosted its stake in Steel Dynamics by 1.7% in the first quarter. Northern Trust Corp now owns 2,791,862 shares of the basic materials company’s stock valued at $98,469,000 after acquiring an additional 47,372 shares in the last quarter. Andra AP fonden acquired a new position in Steel Dynamics in the first quarter valued at $6,109,000. Quantinno Capital Management LP acquired a new position in Steel Dynamics in the first quarter valued at $779,000. Finally, Marshall Wace LLP boosted its stake in Steel Dynamics by 1,482.6% in the first quarter. Marshall Wace LLP now owns 593,892 shares of the basic materials company’s stock valued at $20,947,000 after acquiring an additional 556,366 shares in the last quarter. Institutional investors own 80.04% 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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