Steel Dynamics (STLD) Coverage Initiated at Cowen

Cowen started coverage on shares of Steel Dynamics (NASDAQ:STLD) in a report published on Tuesday morning, Marketbeat reports. The firm issued a market perform rating and a $32.00 price objective on the basic materials company’s stock.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Steel Dynamics from a buy rating to a hold rating in a research note on Monday, October 15th. UBS Group set a $36.00 price objective on shares of Steel Dynamics and gave the company a hold rating in a research report on Monday, December 10th. BidaskClub cut shares of Steel Dynamics from a hold rating to a sell rating in a research report on Friday, October 12th. ValuEngine cut shares of Steel Dynamics from a hold rating to a sell rating in a research report on Wednesday, October 17th. Finally, Credit Suisse Group reiterated a neutral rating on shares of Steel Dynamics in a research report on Monday, October 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $50.42.

Shares of STLD traded down $0.09 during mid-day trading on Tuesday, reaching $33.31. The stock had a trading volume of 83,429 shares, compared to its average volume of 2,663,253. Steel Dynamics has a 12 month low of $28.91 and a 12 month high of $52.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.94 and a quick ratio of 2.17. The firm has a market cap of $7.60 billion, a P/E ratio of 12.65, a PEG ratio of 0.60 and a beta of 1.36.



Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, October 17th. The basic materials company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.65 by $0.04. Steel Dynamics had a net margin of 11.49% and a return on equity of 31.96%. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The company’s quarterly revenue was up 31.9% compared to the same quarter last year. Equities analysts anticipate that Steel Dynamics will post 5.53 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Monday, December 31st will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, December 28th. Steel Dynamics’s payout ratio is presently 28.30%.

In related news, Director Richard P. Teets, Jr. purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, November 28th. The shares were purchased at an average cost of $33.85 per share, for a total transaction of $677,000.00. Following the completion of the acquisition, the director now owns 5,022,779 shares in the company, valued at approximately $170,021,069.15. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Steel Dynamics by 3.0% in the third quarter. BlackRock Inc. now owns 23,117,232 shares of the basic materials company’s stock worth $1,044,668,000 after purchasing an additional 679,662 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of Steel Dynamics by 4.3% in the third quarter. Vanguard Group Inc now owns 21,357,596 shares of the basic materials company’s stock worth $965,150,000 after purchasing an additional 882,061 shares during the last quarter. Steadfast Capital Management LP grew its holdings in shares of Steel Dynamics by 0.5% in the third quarter. Steadfast Capital Management LP now owns 3,457,050 shares of the basic materials company’s stock worth $156,224,000 after purchasing an additional 18,158 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Steel Dynamics by 2.3% in the third quarter. Bank of New York Mellon Corp now owns 3,264,092 shares of the basic materials company’s stock worth $147,503,000 after purchasing an additional 72,097 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Steel Dynamics by 2.4% in the second quarter. Northern Trust Corp now owns 2,679,485 shares of the basic materials company’s stock worth $123,123,000 after purchasing an additional 63,716 shares during the last quarter. Hedge funds and other institutional investors own 83.84% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a diversified carbon-steel steel producer and metals recycler in the U.S. It produces a wide array of steel – beams, bars, steel sheet, and more. It operates through the following segments: Steel Operations, Metals Recycling Operations, Steel Fabrication Operations, and Others.

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Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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