Steel Dynamics (NASDAQ:STLD) Shares Up 4.5% – Should You Buy?

Steel Dynamics, Inc. (NASDAQ:STLDGet Free Report) traded up 4.5% on Monday . The company traded as high as $121.66 and last traded at $121.57. 185,332 shares were traded during mid-day trading, a decline of 88% from the average session volume of 1,561,123 shares. The stock had previously closed at $116.33.

Analyst Ratings Changes

Several equities analysts have weighed in on STLD shares. The Goldman Sachs Group began coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Jefferies Financial Group reduced their price objective on shares of Steel Dynamics from $145.00 to $125.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Morgan Stanley cut their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Finally, Citigroup decreased their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Steel Dynamics has an average rating of “Hold” and an average price target of $141.13.

Get Our Latest Analysis on STLD

Steel Dynamics Stock Up 0.2 %

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 company has a market capitalization of $18.81 billion, a P/E ratio of 11.18 and a beta of 1.36. The stock has a 50 day moving average price of $130.87 and a 200 day moving average price of $126.54.

Steel Dynamics (NASDAQ:STLDGet Free Report) last posted its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.18 billion. During the same period last year, the company earned $3.47 earnings per share. The business’s quarterly revenue was down 5.4% on a year-over-year basis. On average, research analysts anticipate that Steel Dynamics, Inc. will post 10.09 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were issued a $0.46 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 1.49%. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the transaction, the senior vice president now directly owns 21,101 shares of the company’s stock, valued at approximately $2,927,763.75. The trade was a 8.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Miguel Alvarez sold 6,650 shares of the stock in a transaction dated Wednesday, November 13th. The shares were 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 approximately $16,723,707. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,591 shares of company stock valued at $3,885,938 in the last ninety days. 6.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in STLD. Wilmington Savings Fund Society FSB acquired a new stake in shares of Steel Dynamics during the third quarter worth $25,000. ORG Wealth Partners LLC bought a new stake in Steel Dynamics during the fourth quarter valued at $28,000. Private Trust Co. NA boosted its position in shares of Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 245 shares in the last quarter. Brooklyn Investment Group acquired a new stake in Steel Dynamics during the third quarter worth approximately $61,000. Finally, Quest Partners LLC bought a new stake in Steel Dynamics in the third quarter worth approximately $62,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Company Profile

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Steel Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.