FORT WAYNE, Ind. - Steel Dynamics , Inc. (NASDAQ/GS: NASDAQ:STLD), a major North American steel producer and metals recycler, today announced the promotion of James Anderson to Senior Vice President of the Long Products Steel Group and Chad Bickford as Vice President of the Steel Fabrication Group, New Millennium Building Systems.
Effective May 1, 2024, James Anderson will oversee the Long Products Steel Group, which includes the company's four electric arc furnace (EAF) long product steel mills and several smaller facilities with nearly five million tons of annual steel shipping capability.
Anderson, who has been with Steel Dynamics since 2007, has a history of leadership roles within the company, most recently as President of New Millennium Building Systems since 2019. He holds a bachelor's degree in metallurgical engineering and an MBA.
Chad Bickford will take over the Steel Fabrication Group, which operates seven steel joist and deck manufacturing facilities across the United States and Mexico, upon Anderson's transition. Bickford has been with New Millennium since 2003 and has held various leadership positions, including General Manager of the Virginia steel fabrication facility. His experience includes roles in engineering, commercial, and marketing. Bickford has a bachelor's degree in civil engineering.
Both Anderson and Bickford will report to Barry Schneider, President and Chief Operating Officer of Steel Dynamics.
Steel Dynamics, headquartered in Fort Wayne, Indiana, is one of the largest domestic steel producers. The company's portfolio includes steel products such as hot roll, cold roll, coated sheet steel, structural steel beams, shapes, rail, engineered special-bar-quality steel, cold finished steel, merchant bar products, specialty steel sections, and steel joists and deck. The company also produces liquid pig iron and processes and sells ferrous and nonferrous scrap.
The information in this article is based on a press release statement from Steel Dynamics, Inc.
InvestingPro Insights
As Steel Dynamics, Inc. (NASDAQ/GS: STLD) continues to strengthen its leadership team with strategic promotions, the company's financial health and market performance remain a key interest for investors.
According to InvestingPro data, Steel Dynamics boasts a robust market capitalization of $23.58 billion, reflecting its significant presence in the North American steel industry. The company's P/E Ratio stands at an attractive 10.15, with an adjusted P/E Ratio for the last twelve months as of Q4 2023 even lower at 9.62, suggesting that the stock may be undervalued relative to its earnings.
InvestingPro Tips highlight that management's aggressive share buyback strategy and a high shareholder yield are indicators of the company's commitment to returning value to its investors. Additionally, Steel Dynamics has a commendable track record of raising its dividend for 11 consecutive years, showcasing its financial stability and dedication to consistent shareholder returns.
With a strong return over the last three months, as evidenced by a 25.91% price total return, investors may find confidence in the company's recent market performance. Analysts have taken note of Steel Dynamics' robust financials and market behavior, with four analysts revising their earnings upwards for the upcoming period, further underscoring the company's growth potential.
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