Steel Dynamics, Inc. (NASDAQ:STLD) Receives $142.86 Average Target Price from Brokerages

Steel Dynamics, Inc. (NASDAQ:STLD) has been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and three have given 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 $144.29.

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday. Morgan Stanley reduced 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. BMO Capital Markets increased their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Finally, Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of STLD. National Bank of Canada FI lifted its stake in Steel Dynamics by 481.2% in the 2nd quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock worth $42,461,000 after purchasing an additional 272,226 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in Steel Dynamics by 65.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock worth $74,064,000 after purchasing an additional 225,832 shares in the last quarter. Swedbank AB purchased a new stake in Steel Dynamics in the 1st quarter worth approximately $32,178,000. Acadian Asset Management LLC lifted its stake in Steel Dynamics by 21.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock worth $168,550,000 after purchasing an additional 202,312 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Steel Dynamics in the 2nd quarter worth approximately $24,670,000. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Trading Up 1.1 %

Shares of STLD stock opened at $136.57 on Friday. Steel Dynamics has a 52-week low of $98.25 and a 52-week high of $151.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The company has a 50-day simple moving average of $120.79 and a two-hundred day simple moving average of $127.37. The company has a market capitalization of $21.46 billion, a price-to-earnings ratio of 9.38 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the prior year, the firm posted $3.47 EPS. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. Research analysts anticipate that Steel Dynamics will post 10.12 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.35%. The ex-dividend date was Monday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

About Steel Dynamics

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.