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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 earnings per share guidance of $6.61-$6.65 for the period, compared to the consensus earnings per share estimate of $5.73. The company issued revenue guidance of -.

Shares of NASDAQ STLD opened at $67.40 on Thursday. The company has a quick ratio of 1.74, a current ratio of 3.42 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $12.72 billion, a price-to-earnings ratio of 3.48 and a beta of 1.30. The firm has a 50-day moving average price of $81.08 and a 200 day moving average price of $72.42. Steel Dynamics has a 52 week low of $50.54 and a 52 week high of $100.37.

Steel Dynamics (NASDAQ:STLD - Get Rating) last posted its quarterly earnings data 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. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.35 billion. Steel Dynamics had a net margin of 19.02% and a return on equity of 69.88%. The company's revenue was up 57.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.10 earnings per share. Equities research analysts expect that Steel Dynamics will post 19.84 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.02%. 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 has authorized a share repurchase 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 reacquire up to 8.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

A number of equities research analysts recently issued reports on STLD shares. StockNews.com started coverage on shares of Steel Dynamics in a report on Thursday, March 31st. They issued a buy rating for the company. The Goldman Sachs Group downgraded shares of Steel Dynamics from a buy rating to a neutral rating and lowered their target price for the company from $114.00 to $92.00 in a report on Tuesday, May 31st. UBS Group set a $95.00 target price on shares of Steel Dynamics in a report on Monday. JPMorgan Chase & Co. lowered their target price on shares of Steel Dynamics from $129.00 to $110.00 in a report on Tuesday, June 14th. Finally, BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $95.00 to $104.00 in a research note on Friday, April 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $87.00.

In related 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 sale, the director now directly owns 724,034 shares of the company's stock, valued at $60,464,079.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.40% of the company's stock.

A number of institutional investors and hedge funds have recently bought and sold shares of STLD. Mather Group LLC. acquired a new stake in Steel Dynamics in the first quarter valued at $209,000. XTX Topco Ltd acquired a new stake in shares of Steel Dynamics during the first quarter worth $258,000. Lido Advisors LLC acquired a new stake in shares of Steel Dynamics during the first quarter worth $261,000. Evercore Wealth Management LLC acquired a new stake in shares of Steel Dynamics during the first quarter worth $341,000. Finally, Sprott Inc. acquired a new stake in shares of Steel Dynamics during the first quarter worth $342,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further ReadingGet a free copy of the StockNews.com research report on Steel Dynamics (STLD)Downturn Gives These 3 Buys Juicy Dividend YieldsVictoria’s Secret Stock is Out of the Box Time For a Ride in Six Flags StockWhy Dollar General (NYSE: DG) Should Be In Your PortfolioKorn Ferry Is A Good Buy For The Recession And Beyond 

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