Steel Dynamics, Inc. (NASDAQ:STLD) Receives $144.29 Consensus PT from Analysts

Steel Dynamics, Inc. (NASDAQ:STLD) has been assigned a consensus rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $144.29.

A number of research firms have commented on STLD. BMO Capital Markets lifted their target price 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. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Morgan Stanley cut their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. upped their price target on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD opened at $139.41 on Tuesday. Steel Dynamics has a 1 year low of $104.60 and a 1 year high of $155.56. The firm has a market capitalization of $21.22 billion, a PE ratio of 12.62 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The business’s 50 day moving average price is $128.98 and its 200-day moving average price is $127.09.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter last year, the business posted $3.47 earnings per share. The firm’s revenue was down 5.4% compared to the same quarter last year. As a group, equities research analysts expect that Steel Dynamics will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 1.32%. Steel Dynamics’s dividend payout ratio is presently 16.65%.

Insider Buying and Selling

In other news, SVP Miguel Alvarez sold 6,650 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the sale, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at $16,723,707. This trade represents a 5.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the sale, the vice president now directly owns 17,100 shares of the company’s stock, valued at $2,306,106. This represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,591 shares of company stock worth $3,608,438 in the last quarter. 6.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Steel Dynamics

Hedge funds have recently bought and sold shares of the company. Trustmark National Bank Trust Department increased its stake in Steel Dynamics by 126.6% in the 1st quarter. Trustmark National Bank Trust Department now owns 7,134 shares of the basic materials company’s stock valued at $1,057,000 after purchasing an additional 3,986 shares in the last quarter. Bessemer Group Inc. increased its position in Steel Dynamics by 2,679.3% during the first quarter. Bessemer Group Inc. now owns 10,867 shares of the basic materials company’s stock worth $1,611,000 after buying an additional 10,476 shares in the last quarter. LBP AM SA increased its position in Steel Dynamics by 26.5% during the first quarter. LBP AM SA now owns 21,966 shares of the basic materials company’s stock worth $3,256,000 after buying an additional 4,599 shares in the last quarter. M&G Plc purchased a new position in Steel Dynamics during the first quarter worth $9,478,000. Finally, UniSuper Management Pty Ltd increased its position in Steel Dynamics by 372.0% during the first quarter. UniSuper Management Pty Ltd now owns 8,906 shares of the basic materials company’s stock worth $1,320,000 after buying an additional 7,019 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

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.