Steel Dynamics, Inc. (NASDAQ:STLD) Receives Average Recommendation of “Hold” from Analysts

Steel Dynamics, Inc. (NASDAQ:STLD) has received an average rating of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $144.29.

A number of research analysts have commented on STLD shares. BMO Capital Markets increased their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. raised their price target on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, Morgan Stanley dropped their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $130.34 on Friday. Steel Dynamics has a 52 week low of $99.01 and a 52 week high of $151.34. The business’s fifty day moving average is $121.95 and its two-hundred day moving average is $127.06. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The firm has a market cap of $20.11 billion, a P/E ratio of 11.80 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. Steel Dynamics’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.47 earnings per share. Equities research analysts forecast that Steel Dynamics will post 10.22 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s dividend payout ratio is 16.65%.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the transaction, the senior vice president now owns 146,693 shares in the company, valued at approximately $19,523,371.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Steel Dynamics

Large investors have recently bought and sold shares of the company. Fisher Asset Management LLC lifted its position in shares of Steel Dynamics by 6.1% in the fourth quarter. Fisher Asset Management LLC now owns 60,833 shares of the basic materials company’s stock worth $7,184,000 after purchasing an additional 3,494 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Steel Dynamics by 12.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 16,872 shares of the basic materials company’s stock valued at $1,993,000 after buying an additional 1,917 shares during the last quarter. CWM LLC lifted its position in Steel Dynamics by 4.3% during the 1st quarter. CWM LLC now owns 4,456 shares of the basic materials company’s stock worth $661,000 after buying an additional 182 shares in the last quarter. GAMMA Investing LLC lifted its position in Steel Dynamics by 9.9% during the 1st quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock worth $239,000 after buying an additional 145 shares in the last quarter. Finally, Signal Advisors Wealth LLC boosted its stake in shares of Steel Dynamics by 24.5% during the 1st quarter. Signal Advisors Wealth LLC now owns 2,646 shares of the basic materials company’s stock worth $392,000 after buying an additional 521 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.