Steel Dynamics, Inc. (NASDAQ:STLD) Given Average Rating of “Hold” by Brokerages

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have been assigned a consensus rating of “Hold” from the seven analysts that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $141.29.

Several research firms have commented on STLD. Bank of America cut their price target on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Morgan Stanley cut their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets decreased their price target on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a research note on Tuesday, September 17th. JPMorgan Chase & Co. upgraded shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $120.00 to $131.00 in a research note on Monday, September 9th. Finally, UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd.

Steel Dynamics Stock Up 0.6 %

Shares of NASDAQ:STLD opened at $125.98 on Monday. The firm has a 50 day simple moving average of $119.47 and a 200-day simple moving average of $128.73. Steel Dynamics has a twelve month low of $98.25 and a twelve month high of $151.34. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $19.80 billion, a PE ratio of 8.65 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. Steel Dynamics’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.81 earnings per share. On average, equities analysts predict that Steel Dynamics will post 10.32 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.46 per share. The ex-dividend date is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.46%. Steel Dynamics’s dividend payout ratio (DPR) is 12.64%.

Institutional Investors Weigh In On Steel Dynamics

Hedge funds have recently added to or reduced their stakes in the company. Jump Financial LLC purchased a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $271,000. Janney Montgomery Scott LLC boosted its position in shares of Steel Dynamics by 9.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 18,934 shares of the basic materials company’s stock worth $2,236,000 after purchasing an additional 1,573 shares in the last quarter. Brown Advisory Inc. grew its stake in shares of Steel Dynamics by 11.0% during the 4th quarter. Brown Advisory Inc. now owns 5,112 shares of the basic materials company’s stock worth $604,000 after purchasing an additional 507 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Steel Dynamics by 12.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 16,872 shares of the basic materials company’s stock valued at $1,993,000 after purchasing an additional 1,917 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Steel Dynamics by 1.1% in the 4th quarter. UBS Group AG now owns 288,318 shares of the basic materials company’s stock valued at $34,050,000 after purchasing an additional 3,182 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Company Profile

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.