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

Steel Dynamics, Inc. (NASDAQ:STLD) has been assigned an average recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $125.29.

A number of research firms have recently commented on STLD. Jefferies Financial Group began coverage on shares of Steel Dynamics in a report on Monday, May 20th. They issued a “hold” rating and a $150.00 target price for the company. BMO Capital Markets increased their target price on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, March 18th. Citigroup increased their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th.

Steel Dynamics Trading Down 0.6 %

STLD opened at $120.69 on Friday. Steel Dynamics has a twelve month low of $95.53 and a twelve month high of $151.34. The company has a 50-day simple moving average of $133.95 and a 200 day simple moving average of $127.90. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $18.96 billion, a price-to-earnings ratio of 8.29 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the prior year, the business posted $4.01 earnings per share. Steel Dynamics’s revenue was down 4.1% compared to the same quarter last year. Analysts predict that Steel Dynamics will post 12.5 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Friday, June 28th. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Insider Activity

In other news, SVP Christopher A. Graham sold 21,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the completion of the transaction, the senior vice president now owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.00% of the stock is currently owned by insiders.

Institutional Trading of Steel Dynamics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new stake in Steel Dynamics during the 1st quarter valued at approximately $25,000. LifeSteps Financial Inc. acquired a new stake in shares of Steel Dynamics during the 1st quarter worth approximately $26,000. CVA Family Office LLC acquired a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $28,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $29,000. Finally, Lindbrook Capital LLC grew its position in shares of Steel Dynamics by 117.5% during the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock worth $29,000 after buying an additional 134 shares during the period. 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.