Steel Dynamics, Inc. (NASDAQ:STLD) Given Average Rating of “Moderate Buy” by Analysts

Steel Dynamics, Inc. (NASDAQ:STLD) has been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $257.2727.

STLD has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of Steel Dynamics from $275.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, August 24th. UBS Group upped their price objective on shares of Steel Dynamics from $165.00 to $276.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Bank of America lowered their target price on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Morgan Stanley dropped their target price on Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th.

Steel Dynamics Trading Down 0.5%

Steel Dynamics stock opened at $234.66 on Monday. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45. Steel Dynamics has a 12 month low of $126.88 and a 12 month high of $288.74. The stock’s 50 day simple moving average is $242.07 and its two-hundred day simple moving average is $223.62. The firm has a market cap of $33.63 billion, a PE ratio of 21.27, a P/E/G ratio of 0.45 and a beta of 1.52.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The business had revenue of $6.09 billion for the quarter, compared to analysts’ expectations of $5.56 billion. During the same quarter last year, the company earned $2.01 EPS. The business’s revenue was up 33.4% on a year-over-year basis. Analysts anticipate that Steel Dynamics will post 17.16 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 19.22%.

Insider Buying and Selling

In other news, SVP James Stanley Anderson sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the sale, the senior vice president directly owned 102,837 shares in the company, valued at $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in STLD. Strs Ohio lifted its holdings in Steel Dynamics by 7.3% during the fourth quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock valued at $26,075,000 after purchasing an additional 10,519 shares in the last quarter. Canada Post Corp Registered Pension Plan increased its stake in shares of Steel Dynamics by 70.5% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 11,692 shares of the basic materials company’s stock worth $1,981,000 after purchasing an additional 4,835 shares in the last quarter. Ethic Inc. increased its stake in shares of Steel Dynamics by 56.5% during the fourth quarter. Ethic Inc. now owns 18,548 shares of the basic materials company’s stock worth $3,143,000 after purchasing an additional 6,695 shares in the last quarter. Sapient Capital LLC raised its position in shares of Steel Dynamics by 34.6% during the 2nd quarter. Sapient Capital LLC now owns 447,664 shares of the basic materials company’s stock worth $102,958,000 after purchasing an additional 115,080 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of Steel Dynamics by 372.2% during the 4th quarter. M&T Bank Corp now owns 34,898 shares of the basic materials company’s stock worth $5,913,000 after purchasing an additional 27,508 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

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.