Steel Dynamics, Inc. (NASDAQ:STLD) Receives $163.56 Consensus Target Price from Analysts

Steel Dynamics, Inc. (NASDAQ:STLD) has been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $167.4444.

A number of equities research analysts have commented on STLD shares. Weiss Ratings reissued a “hold (c)” rating on shares of Steel Dynamics in a report on Wednesday, October 8th. Morgan Stanley increased their price objective on shares of Steel Dynamics from $145.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, October 13th. Citigroup raised their target price on shares of Steel Dynamics from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Jefferies Financial Group raised their target price on shares of Steel Dynamics from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd.

Steel Dynamics Stock Down 3.2%

Shares of NASDAQ:STLD opened at $158.18 on Tuesday. Steel Dynamics has a 12 month low of $103.17 and a 12 month high of $164.73. The company’s 50-day moving average price is $140.62 and its two-hundred day moving average price is $133.05. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. The firm has a market cap of $23.10 billion, a P/E ratio of 20.95, a P/E/G ratio of 1.39 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Monday, October 20th. The basic materials company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The company’s revenue was up 11.2% on a year-over-year basis. As a group, research analysts forecast that Steel Dynamics will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is 26.49%.

Insider Activity

In other news, SVP Miguel Alvarez sold 8,251 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total value of $1,343,180.29. Following the transaction, the senior vice president owned 117,068 shares of the company’s stock, valued at approximately $19,057,499.72. This trade represents a 6.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Steel Dynamics by 493.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 163 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Steel Dynamics in the 1st quarter valued at about $25,000. Trust Co. of Toledo NA OH bought a new position in shares of Steel Dynamics in the 2nd quarter valued at about $30,000. Zions Bancorporation National Association UT acquired a new stake in shares of Steel Dynamics in the 1st quarter valued at approximately $32,000. Finally, WPG Advisers LLC acquired a new stake in shares of Steel Dynamics in the 1st quarter valued at approximately $32,000. Institutional investors own 82.41% of the company’s stock.

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.