Steel Dynamics (NASDAQ:STLD) Earns Neutral Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Steel Dynamics (NASDAQ:STLD) in a research note published on Monday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $155.00 price target on the basic materials company’s stock.

Other research analysts have also issued research reports about the stock. Morgan Stanley decreased their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets increased their price target on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $145.63.

Steel Dynamics Trading Down 0.3 %

Shares of STLD stock opened at $144.81 on Monday. The stock has a 50-day simple moving average of $135.06 and a 200 day simple moving average of $127.75. The stock has a market capitalization of $22.05 billion, a P/E ratio of 13.10 and a beta of 1.31. Steel Dynamics has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the firm posted $3.47 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, sell-side analysts expect that Steel Dynamics will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s payout ratio is 16.65%.

Insider Buying and Selling

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This trade represents a 10.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the completion of the transaction, the vice president now directly owns 17,100 shares in the company, valued at $2,306,106. This trade represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,591 shares of company stock valued at $3,885,938. Corporate insiders own 6.00% of the company’s stock.

Institutional Trading of Steel Dynamics

Institutional investors have recently bought and sold shares of the company. Tidal Investments LLC raised its stake in shares of Steel Dynamics by 6.4% during the 3rd quarter. Tidal Investments LLC now owns 26,413 shares of the basic materials company’s stock worth $3,330,000 after purchasing an additional 1,585 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Steel Dynamics in the third quarter worth approximately $25,000. World Investment Advisors LLC acquired a new position in Steel Dynamics in the third quarter worth approximately $15,880,000. Sanctuary Advisors LLC raised its position in Steel Dynamics by 10.4% during the third quarter. Sanctuary Advisors LLC now owns 16,881 shares of the basic materials company’s stock valued at $2,128,000 after acquiring an additional 1,596 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in Steel Dynamics by 7.3% in the third quarter. Coldstream Capital Management Inc. now owns 4,917 shares of the basic materials company’s stock valued at $625,000 after acquiring an additional 336 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

About Steel Dynamics

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.