Brokerages Set Steel Dynamics, Inc. (NASDAQ:STLD) Target Price at $142.86

Steel Dynamics, Inc. (NASDAQ:STLD) has earned a consensus rating of “Hold” from the seven brokerages 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 12-month target price among brokers that have issued ratings on the stock in the last year is $144.29.

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

Insider Activity at Steel Dynamics

In other news, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.00% of the stock is owned by corporate insiders.

Institutional Trading of Steel Dynamics

Several institutional investors have recently made changes to their positions in STLD. Fisher Asset Management LLC boosted its holdings in Steel Dynamics by 6.1% during the fourth quarter. Fisher Asset Management LLC now owns 60,833 shares of the basic materials company’s stock valued at $7,184,000 after purchasing an additional 3,494 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Steel Dynamics by 12.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 16,872 shares of the basic materials company’s stock valued at $1,993,000 after acquiring an additional 1,917 shares during the period. CWM LLC raised its stake in Steel Dynamics by 4.3% during the first quarter. CWM LLC now owns 4,456 shares of the basic materials company’s stock worth $661,000 after acquiring an additional 182 shares in the last quarter. GAMMA Investing LLC raised its stake in Steel Dynamics by 9.9% during the first quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock worth $239,000 after acquiring an additional 145 shares in the last quarter. Finally, Signal Advisors Wealth LLC lifted its holdings in shares of Steel Dynamics by 24.5% during the first quarter. Signal Advisors Wealth LLC now owns 2,646 shares of the basic materials company’s stock valued at $392,000 after acquiring an additional 521 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Trading Up 1.3 %

Shares of STLD opened at $130.34 on Friday. The business’s 50-day moving average price is $121.95 and its 200 day moving average price is $127.06. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $20.11 billion, a P/E ratio of 11.80 and a beta of 1.31. Steel Dynamics has a 1-year low of $99.01 and a 1-year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same period last year, the firm posted $3.47 earnings per share. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. Analysts expect that Steel Dynamics will post 10.22 earnings per share for the current year.

Steel Dynamics Announces Dividend

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

Steel Dynamics Company Profile

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.