Recent Analysts’ Ratings Changes for Steel Dynamics (STLD)

Steel Dynamics (NASDAQ: STLD) recently received a number of ratings updates from brokerages and research firms:

• 10/18/2024 – Steel Dynamics had its price target raised by analysts at JPMorgan Chase & Co. from $129.00 to $134.00. They now have a “neutral” rating on the stock.
• 10/18/2024 – Steel Dynamics had its price target raised by analysts at BMO Capital Markets from $130.00 to $135.00. They now have a “market perform” rating on the stock.
• 10/10/2024 – Steel Dynamics had its price target raised by analysts at BMO Capital Markets from $127.00 to $130.00. They now have a “market perform” rating on the stock.
• 10/9/2024 – Steel Dynamics had its price target lowered by analysts at JPMorgan Chase & Co. from $131.00 to $129.00. They now have a “neutral” rating on the stock.
• 10/1/2024 – Steel Dynamics was upgraded by analysts at Bank of America Co. from a “neutral” rating to a “buy” rating. They now have a $155.00 price target on the stock, up previously from $140.00.
• 9/18/2024 – Steel Dynamics had its price target lowered by analysts at Morgan Stanley from $138.00 to $131.00. They now have an “equal weight” rating on the stock.
• 9/17/2024 – Steel Dynamics had its price target lowered by analysts at BMO Capital Markets from $135.00 to $127.00. They now have a “market perform” rating on the stock.
• 9/9/2024 – Steel Dynamics was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating. They now have a $131.00 price target on the stock, up previously from $120.00.
• 9/3/2024 – Steel Dynamics was upgraded by analysts at UBS Group AG from a “neutral” rating to a “buy” rating. They now have a $145.00 price target on the stock, up previously from $129.00.

Steel Dynamics Stock Down 2.4 %

Shares of NASDAQ:STLD opened at $128.64 on Thursday. The firm has a market cap of $20.21 billion, a P/E ratio of 8.84 and a beta of 1.31. Steel Dynamics, Inc. has a 52-week low of $98.74 and a 52-week high of $151.34. The business’s 50 day simple moving average is $121.43 and its two-hundred day simple moving average is $127.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.39.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the previous year, the business posted $3.47 EPS. Steel Dynamics’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, research analysts forecast that Steel Dynamics, Inc. will post 10.12 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the transaction, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Steel Dynamics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its position in Steel Dynamics by 4.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock worth $534,295,000 after acquiring an additional 152,254 shares during the period. Pacer Advisors Inc. increased its stake in shares of Steel Dynamics by 7.0% during the 2nd quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock worth $276,891,000 after purchasing an additional 140,042 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Steel Dynamics by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock valued at $228,999,000 after purchasing an additional 22,390 shares during the last quarter. LSV Asset Management grew its holdings in Steel Dynamics by 3.9% during the second quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock valued at $182,604,000 after purchasing an additional 53,532 shares during the period. Finally, Acadian Asset Management LLC increased its position in Steel Dynamics by 21.6% in the first quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock worth $168,550,000 after buying an additional 202,312 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

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.