Steel Dynamics, Inc. (NASDAQ:STLD – Get Free Report) has been assigned an average recommendation of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $144.29.
STLD has been the topic of several research reports. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Morgan Stanley lowered 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. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. BMO Capital Markets boosted their price target on shares of 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, JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday, October 18th.
Check Out Our Latest Stock Analysis on Steel Dynamics
Insider Activity at Steel Dynamics
Hedge Funds Weigh In On Steel Dynamics
A number of hedge funds and other institutional investors have recently bought and sold shares of STLD. Larson Financial Group LLC purchased a new position in Steel Dynamics in the 1st quarter worth approximately $25,000. Innealta Capital LLC purchased a new position in Steel Dynamics in the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Steel Dynamics in the 2nd quarter worth approximately $41,000. Riverview Trust Co purchased a new position in Steel Dynamics in the 1st quarter worth approximately $50,000. Finally, Cullen Frost Bankers Inc. grew its stake in Steel Dynamics by 33.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.
Steel Dynamics Stock Performance
Shares of STLD stock opened at $131.80 on Friday. The firm has a market cap of $20.34 billion, a price-to-earnings ratio of 11.93 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.39. Steel Dynamics has a 52 week low of $98.32 and a 52 week high of $151.34. The firm’s 50-day simple moving average is $121.14 and its two-hundred day simple moving average is $127.13.
Steel Dynamics (NASDAQ:STLD – Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.98 by $0.07. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.47 earnings per share. As a group, equities analysts forecast that Steel Dynamics will post 10.12 earnings per share for the current year.
Steel Dynamics Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.46 per share. The ex-dividend date was Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.40%. Steel Dynamics’s dividend payout ratio is currently 16.65%.
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.
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