Steel Dynamics, Inc. (NASDAQ:STLD) Receives Consensus Rating of “Hold” from Brokerages

Steel Dynamics, Inc. (NASDAQ:STLD) has earned a consensus rating of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $118.13.

Several research analysts have issued reports on the company. Citigroup raised their target price on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. UBS Group reduced their target price on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $95.00 to $98.00 and gave the company an “underweight” rating in a research report on Tuesday, December 12th. Finally, BMO Capital Markets increased their price target on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, March 18th.

Institutional Investors Weigh In On Steel Dynamics

A number of institutional investors have recently added to or reduced their stakes in STLD. CVA Family Office LLC purchased a new stake in shares of Steel Dynamics during the fourth quarter valued at about $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Steel Dynamics during the fourth quarter valued at approximately $29,000. Lindbrook Capital LLC boosted its stake in Steel Dynamics by 117.5% in the fourth quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 134 shares in the last quarter. Wellington Shields & Co. LLC grew its holdings in Steel Dynamics by 50.0% in the fourth quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 100 shares during the last quarter. Finally, Security National Bank acquired a new position in shares of Steel Dynamics during the fourth quarter worth $30,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $148.23 on Monday. The company has a current ratio of 2.91, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. Steel Dynamics has a 12 month low of $90.55 and a 12 month high of $148.74. The business’s 50-day moving average price is $129.02 and its 200-day moving average price is $117.28. The firm has a market capitalization of $23.44 billion, a PE ratio of 10.16 and a beta of 1.41.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.63 by ($0.02). Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same period last year, the firm posted $4.37 earnings per share. The firm’s quarterly revenue was down 12.3% on a year-over-year basis. Sell-side analysts forecast that Steel Dynamics will post 11.63 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.24%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, March 27th. Steel Dynamics’s payout ratio is presently 12.61%.

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.