Steel Dynamics (NASDAQ:STLD) PT Lowered to $127.00 at BMO Capital Markets

Steel Dynamics (NASDAQ:STLD) had its target price decreased by BMO Capital Markets from $135.00 to $127.00 in a research report released on Tuesday, MarketBeat reports. BMO Capital Markets currently has a market perform rating on the basic materials company’s stock.

STLD has been the subject of a number of other research reports. Jefferies Financial Group began coverage on shares of Steel Dynamics in a research report on Monday, May 20th. They set a hold rating and a $150.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of Steel Dynamics from an underweight rating to a neutral rating and raised their target price for the stock from $120.00 to $131.00 in a report on Monday, September 9th. Morgan Stanley lifted their price target on shares of Steel Dynamics from $134.00 to $138.00 and gave the company an equal weight rating in a research note on Thursday, August 15th. 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. Finally, Bank of America decreased their target price 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. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $141.29.

Steel Dynamics Stock Down 0.2 %

Shares of NASDAQ:STLD opened at $119.83 on Tuesday. Steel Dynamics has a 12-month low of $98.25 and a 12-month high of $151.34. The firm has a market cap of $18.49 billion, a price-to-earnings ratio of 8.23 and a beta of 1.32. 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 stock’s 50-day moving average price is $120.30 and its two-hundred day moving average price is $129.08.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.05. The company had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the business earned $4.81 EPS. On average, research analysts forecast that Steel Dynamics will post 10.57 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a $0.46 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.54%. Steel Dynamics’s payout ratio is 12.64%.

Institutional Investors Weigh In On Steel Dynamics

Large investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC boosted its stake in shares of Steel Dynamics by 27.0% during the fourth quarter. Private Advisor Group LLC now owns 3,942 shares of the basic materials company’s stock valued at $466,000 after purchasing an additional 837 shares during the period. Jump Financial LLC bought a new position in Steel Dynamics during the 4th quarter valued at about $271,000. Avantax Advisory Services Inc. boosted its stake in shares of Steel Dynamics by 9.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,101 shares of the basic materials company’s stock worth $366,000 after buying an additional 272 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Steel Dynamics by 1.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 17,321 shares of the basic materials company’s stock worth $2,046,000 after acquiring an additional 278 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in Steel Dynamics by 9.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 18,934 shares of the basic materials company’s stock worth $2,236,000 after acquiring an additional 1,573 shares in the last quarter. Institutional investors 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.