Shares of Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) have earned an average rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $107.29.
STLD has been the topic of a number of recent analyst reports. Bank of America downgraded shares of Steel Dynamics from a “buy” rating to a “neutral” rating and cut their price target for the stock from $140.00 to $123.00 in a research note on Wednesday, April 5th. Citigroup cut Steel Dynamics from a “buy” rating to a “neutral” rating in a report on Wednesday, March 15th. JPMorgan Chase & Co. initiated coverage on Steel Dynamics in a research report on Tuesday, May 23rd. They set an “underweight” rating and a $82.00 price target for the company. Credit Suisse Group raised their price objective on Steel Dynamics from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, April 21st. Finally, UBS Group decreased their target price on Steel Dynamics from $110.00 to $100.00 in a report on Friday, May 5th.
Steel Dynamics Price Performance
STLD stock opened at $97.68 on Tuesday. The stock has a market capitalization of $16.51 billion, a price-to-earnings ratio of 5.20 and a beta of 1.48. The company has a quick ratio of 2.51, a current ratio of 4.15 and a debt-to-equity ratio of 0.37. Steel Dynamics has a 52-week low of $62.44 and a 52-week high of $136.46. The stock’s fifty day simple moving average is $101.72 and its 200-day simple moving average is $108.59.
Steel Dynamics (NASDAQ:STLD – Get Rating) last posted its quarterly earnings results on Wednesday, April 19th. The basic materials company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.81 by $0.20. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.95 billion. Steel Dynamics had a return on equity of 47.68% and a net margin of 15.73%. The firm’s revenue was down 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.02 EPS. Equities research analysts expect that Steel Dynamics will post 16.2 EPS for the current year.
Steel Dynamics Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be given a dividend of $0.425 per share. The ex-dividend date is Thursday, June 29th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.74%. Steel Dynamics’s payout ratio is currently 9.05%.
Institutional Investors Weigh In On Steel Dynamics
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KMG Fiduciary Partners LLC purchased a new stake in shares of Steel Dynamics during the fourth quarter worth about $205,000. Signaturefd LLC grew its position in shares of Steel Dynamics by 5.0% during the fourth quarter. Signaturefd LLC now owns 2,552 shares of the basic materials company’s stock worth $249,000 after buying an additional 122 shares in the last quarter. Gladstone Institutional Advisory LLC bought a new stake in shares of Steel Dynamics in the fourth quarter worth $4,137,000. Busey Wealth Management acquired a new stake in Steel Dynamics in the fourth quarter valued at $247,000. Finally, Advisors Asset Management Inc. boosted its stake in Steel Dynamics by 0.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 52,652 shares of the basic materials company’s stock valued at $3,736,000 after acquiring an additional 226 shares during the last quarter. Hedge funds and other institutional investors own 79.54% of the company’s stock.
About Steel Dynamics
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Steel Dynamics, Inc engages in the manufacture of steel products and metal recycling. It operates through the following segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment consists of sheet products including hot roll, cold roll, and coated steel, long products including structural steel beams, pilings, and standard and premium grade rail, and steel finishing services such as turning, polishing, straightening, chamfering, threading, and precision saw-cutting.
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