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

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have been given a consensus recommendation of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $141.29.

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

Institutional Trading of Steel Dynamics

Several hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC acquired a new position in Steel Dynamics during the 1st quarter worth $25,000. LifeSteps Financial Inc. acquired a new position in shares of Steel Dynamics during the first quarter valued at $26,000. Security National Bank bought a new position in Steel Dynamics in the fourth quarter valued at about $30,000. Innealta Capital LLC acquired a new stake in Steel Dynamics in the second quarter worth about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Steel Dynamics during the 2nd quarter worth about $41,000. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $125.98 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.35 and a quick ratio of 1.19. The company has a market cap of $19.44 billion, a PE ratio of 8.65 and a beta of 1.32. The firm has a fifty day moving average price of $119.47 and a two-hundred day moving average price of $128.79. Steel Dynamics has a fifty-two week low of $98.25 and a fifty-two week high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The business had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period last year, the business earned $4.81 earnings per share. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. Analysts expect that Steel Dynamics will post 10.32 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, September 30th. Steel Dynamics’s dividend payout ratio is presently 12.64%.

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.