Steel Dynamics, Inc. (NASDAQ:STLD) Receives $143.38 Consensus Target Price from Brokerages

Steel Dynamics, Inc. (NASDAQ:STLD) has received an average rating of “Hold” from the nine analysts that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $143.38.

A number of equities research analysts have commented on STLD shares. JPMorgan Chase & Co. cut their target price on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price for the company. BMO Capital Markets lifted their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $125.00 to $145.00 in a research report on Friday, January 24th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th.

Insider Buying and Selling

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the sale, the senior vice president now owns 116,949 shares in the company, valued at $16,723,707. The trade was a 5.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard A. Poinsatte sold 2,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total transaction of $277,500.00. Following the sale, the senior vice president now owns 21,101 shares in the company, valued at $2,927,763.75. This represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.

Institutional Trading of Steel Dynamics

Several hedge funds have recently made changes to their positions in the business. Holocene Advisors LP raised its position in shares of Steel Dynamics by 85.8% during the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock valued at $289,400,000 after buying an additional 1,060,007 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Steel Dynamics by 6.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock valued at $194,933,000 after buying an additional 96,122 shares in the last quarter. Nordea Investment Management AB raised its position in Steel Dynamics by 22.4% in the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after purchasing an additional 253,802 shares during the period. Lord Abbett & CO. LLC raised its position in Steel Dynamics by 116.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after purchasing an additional 548,086 shares during the period. Finally, Barclays PLC raised its position in Steel Dynamics by 21.8% in the 3rd quarter. Barclays PLC now owns 448,942 shares of the basic materials company’s stock worth $56,603,000 after purchasing an additional 80,262 shares during the period. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $127.05 on Friday. Steel Dynamics has a twelve month low of $104.60 and a twelve month high of $155.56. The firm has a market cap of $19.34 billion, a P/E ratio of 12.96 and a beta of 1.36. The company has a 50 day moving average of $126.63 and a 200 day moving average of $126.31. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.25% and a net margin of 8.76%. During the same quarter in the previous year, the business earned $2.61 earnings per share. As a group, research analysts expect that Steel Dynamics will post 8.93 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is currently 18.78%.

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.