Steel Dynamics, Inc. (NASDAQ:STLD) Receives $121.17 Average PT from Analysts

Steel Dynamics, Inc. (NASDAQ:STLD) has been assigned a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $121.17.

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. BMO Capital Markets raised their price target on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, March 18th. UBS Group dropped their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. Finally, Citigroup increased their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th.

Institutional Trading of Steel Dynamics

Several large investors have recently bought and sold shares of STLD. CWM LLC boosted its stake in shares of Steel Dynamics by 30.4% during the third quarter. CWM LLC now owns 4,069 shares of the basic materials company’s stock valued at $436,000 after acquiring an additional 948 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Steel Dynamics in the 3rd quarter valued at $206,000. Capital Asset Advisory Services LLC lifted its stake in shares of Steel Dynamics by 13.5% during the third quarter. Capital Asset Advisory Services LLC now owns 2,140 shares of the basic materials company’s stock worth $236,000 after purchasing an additional 254 shares in the last quarter. Czech National Bank lifted its position in Steel Dynamics by 43.1% during the 3rd quarter. Czech National Bank now owns 27,215 shares of the basic materials company’s stock worth $2,918,000 after acquiring an additional 8,199 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Steel Dynamics by 12.4% in the third quarter. Asset Management One Co. Ltd. now owns 73,970 shares of the basic materials company’s stock valued at $7,931,000 after purchasing an additional 8,186 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $134.04 on Friday. Steel Dynamics has a 52-week low of $90.55 and a 52-week high of $151.34. The company has a quick ratio of 1.67, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. The stock has a market cap of $21.17 billion, a PE ratio of 9.21 and a beta of 1.42. The business has a 50-day simple moving average of $137.39 and a 200-day simple moving average of $122.45.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.54 by $0.13. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $4.01 EPS. On average, equities analysts expect that Steel Dynamics will post 12.31 EPS for the current year.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were issued a $0.46 dividend. The ex-dividend date was Wednesday, March 27th. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a yield of 1.37%. Steel Dynamics’s dividend payout ratio (DPR) is 12.64%.

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.