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

Steel Dynamics, Inc. (NASDAQ:STLD) has been assigned a consensus recommendation of “Hold” from the nine analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $108.38.

Several research analysts recently issued reports on STLD shares. BMO Capital Markets cut their target price on Steel Dynamics from $120.00 to $115.00 in a research report on Monday, June 19th. StockNews.com started coverage on Steel Dynamics in a research report on Thursday, August 17th. They set a “hold” rating on the stock. BNP Paribas cut Steel Dynamics from an “outperform” rating to a “neutral” rating and set a $102.00 target price on the stock. in a research report on Wednesday, July 5th. Morgan Stanley lifted their target price on Steel Dynamics from $97.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $94.00 to $95.00 and gave the company an “underweight” rating in a research report on Friday, September 8th.

Insider Transactions at Steel Dynamics

In related news, SVP Christopher A. Graham sold 48,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $105.03, for a total value of $5,041,440.00. Following the sale, the senior vice president now directly owns 61,353 shares in the company, valued at approximately $6,443,905.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Gabriel Shaheen sold 1,717 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $105.80, for a total value of $181,658.60. Following the completion of the transaction, the director now directly owns 83,074 shares of the company’s stock, valued at $8,789,229.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christopher A. Graham sold 48,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $105.03, for a total value of $5,041,440.00. Following the sale, the senior vice president now owns 61,353 shares in the company, valued at $6,443,905.59. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Steel Dynamics

A number of large investors have recently modified their holdings of STLD. Virginia Retirement Systems ET AL bought a new stake in shares of Steel Dynamics during the 2nd quarter valued at about $33,093,000. Elevated Capital Advisors LLC raised its position in shares of Steel Dynamics by 10.3% during the 2nd quarter. Elevated Capital Advisors LLC now owns 2,494 shares of the basic materials company’s stock valued at $272,000 after buying an additional 232 shares in the last quarter. Orion Portfolio Solutions LLC grew its position in Steel Dynamics by 328.4% in the second quarter. Orion Portfolio Solutions LLC now owns 9,956 shares of the basic materials company’s stock worth $1,085,000 after acquiring an additional 7,632 shares in the last quarter. Coppell Advisory Solutions LLC bought a new position in Steel Dynamics in the second quarter valued at $40,000. Finally, Imprint Wealth LLC purchased a new stake in Steel Dynamics during the second quarter valued at about $1,750,000. 81.32% of the stock is currently owned by institutional investors.

Steel Dynamics Trading Down 1.5 %

NASDAQ STLD opened at $98.65 on Thursday. The company has a market cap of $16.34 billion, a price-to-earnings ratio of 5.75 and a beta of 1.51. Steel Dynamics has a 52 week low of $69.12 and a 52 week high of $136.46. The business has a 50 day moving average price of $104.49 and a 200-day moving average price of $105.54. The company has a quick ratio of 2.47, a current ratio of 4.20 and a debt-to-equity ratio of 0.35.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Thursday, July 20th. The basic materials company reported $4.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by ($0.01). The company had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Steel Dynamics had a net margin of 14.66% and a return on equity of 40.44%. The firm’s quarterly revenue was down 18.2% on a year-over-year basis. During the same period in the previous year, the firm earned $6.73 EPS. As a group, equities analysts expect that Steel Dynamics will post 15.8 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be paid a $0.425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a dividend yield of 1.72%. Steel Dynamics’s payout ratio is presently 9.91%.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. 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 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.