Brokerages Set Steel Dynamics, Inc. (NASDAQ:STLD) Target Price at $182.00

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have received a consensus rating of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $182.00.

A number of research firms have recently issued reports on STLD. Citigroup raised their price target on shares of Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. BMO Capital Markets lifted their target price on Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Jefferies Financial Group increased their price target on Steel Dynamics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. Finally, Wells Fargo & Company upped their price objective on Steel Dynamics from $172.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the company’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 completion of the transaction, the senior vice president owned 117,068 shares in the company, valued at approximately $19,057,499.72. This represents a 6.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Steel Dynamics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Steel Dynamics in the second quarter valued at approximately $339,769,000. Boston Partners bought a new position in Steel Dynamics during the 3rd quarter valued at $101,254,000. Nordea Investment Management AB increased its position in shares of Steel Dynamics by 43.3% during the 2nd quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock valued at $271,238,000 after purchasing an additional 630,935 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Steel Dynamics by 40.6% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock worth $214,541,000 after buying an additional 484,304 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Steel Dynamics in the 2nd quarter worth $48,746,000. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Trading Up 0.3%

NASDAQ:STLD opened at $169.84 on Friday. The company has a market cap of $24.80 billion, a PE ratio of 22.50, a P/E/G ratio of 0.71 and a beta of 1.48. The business’s 50 day moving average is $166.25 and its two-hundred day moving average is $146.71. The company has a quick ratio of 1.47, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. Steel Dynamics has a 52 week low of $103.17 and a 52 week high of $178.36.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.11. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period in the prior year, the company posted $2.05 EPS. The business’s revenue was up 11.2% compared to the same quarter last year. On average, analysts predict that Steel Dynamics will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 31st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is 26.49%.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.