Steel Dynamics, Inc. (NASDAQ:STLD) Receives $143.38 Consensus Target Price from Brokerages

Steel Dynamics, Inc. (NASDAQ:STLDGet Free Report) has earned a consensus rating of “Hold” from the nine analysts that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $143.38.

STLD has been the topic of a number of research reports. UBS Group restated a “neutral” rating and set a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price target for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. The Goldman Sachs Group initiated coverage on Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target on the stock. StockNews.com downgraded Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th.

Read Our Latest Analysis on Steel Dynamics

Insider Buying and Selling at Steel Dynamics

In other news, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares in the company, valued at approximately $16,723,707. This trade represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $138.75, for a total transaction of $277,500.00. Following the transaction, the senior vice president now owns 21,101 shares of the company’s stock, valued at $2,927,763.75. The trade was a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Steel Dynamics

Several large investors have recently made changes to their positions in STLD. Public Sector Pension Investment Board lifted its holdings in shares of Steel Dynamics by 59.4% during the second quarter. Public Sector Pension Investment Board now owns 5,295 shares of the basic materials company’s stock valued at $686,000 after purchasing an additional 1,973 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Steel Dynamics by 56.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,780 shares of the basic materials company’s stock valued at $3,727,000 after purchasing an additional 10,425 shares during the last quarter. MBB Public Markets I LLC purchased a new position in Steel Dynamics in the 2nd quarter worth approximately $1,377,000. The Manufacturers Life Insurance Company raised its holdings in Steel Dynamics by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 93,763 shares of the basic materials company’s stock worth $12,142,000 after acquiring an additional 470 shares during the last quarter. Finally, Dorsey Wright & Associates raised its holdings in Steel Dynamics by 0.4% in the 2nd quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock worth $3,050,000 after acquiring an additional 96 shares during the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Trading Up 4.1 %

Shares of STLD stock opened at $127.05 on Friday. The company’s fifty day simple moving average is $126.63 and its two-hundred day simple moving average is $126.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. Steel Dynamics has a 1 year low of $104.60 and a 1 year high of $155.56. The stock has a market capitalization of $19.34 billion, a price-to-earnings ratio of 12.96 and a beta of 1.36.

Steel Dynamics (NASDAQ:STLDGet Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.25% and a net margin of 8.76%. During the same period in the previous year, the company posted $2.61 earnings per share. As a group, analysts anticipate that Steel Dynamics will post 8.93 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.45%. Steel Dynamics’s payout ratio is 18.78%.

About Steel Dynamics

(Get Free Report

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.

See Also

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

Receive News & Ratings for Steel Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.