Brokerages Set Steel Dynamics, Inc. (NASDAQ:STLD) Price Target at $145.63

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have earned a consensus rating of “Hold” from the eight research firms that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $145.63.

STLD has been the subject of several analyst reports. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Morgan Stanley lowered their price target on 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. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. BMO Capital Markets boosted their price target on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday, October 18th.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $138.25 on Friday. The firm has a market capitalization of $21.05 billion, a P/E ratio of 12.51 and a beta of 1.31. The stock has a fifty day moving average price of $137.00 and a 200 day moving average price of $128.04. Steel Dynamics has a 52 week low of $104.60 and a 52 week high of $155.56. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.47 earnings per share. Equities research analysts anticipate that Steel Dynamics will post 10.1 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s payout ratio is 16.65%.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the transaction, the senior vice president now owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Chad Bickford sold 2,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the transaction, the vice president now directly owns 17,100 shares of the company’s stock, valued at $2,306,106. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,591 shares of company stock valued at $3,885,938 over the last quarter. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Steel Dynamics

Institutional investors and hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in Steel Dynamics during the third quarter valued at approximately $25,000. Innealta Capital LLC acquired a new stake in shares of Steel Dynamics during the 2nd quarter worth approximately $33,000. Private Trust Co. NA raised its position in shares of Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 245 shares during the period. Cullen Frost Bankers Inc. raised its position in shares of Steel Dynamics by 33.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 100 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Steel Dynamics during the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

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.