Steel Dynamics (STLD) Upgraded to Outperform at Credit Suisse Group

Credit Suisse Group upgraded shares of Steel Dynamics (NASDAQ:STLD) from a neutral rating to an outperform rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also issued reports on the stock. BMO Capital Markets reduced their target price on shares of Steel Dynamics from $60.00 to $53.00 and set a buy rating on the stock in a report on Friday, October 19th. Deutsche Bank lowered shares of Steel Dynamics to a buy rating in a report on Tuesday, October 2nd. BidaskClub lowered shares of Steel Dynamics from a sell rating to a strong sell rating in a report on Wednesday, November 28th. Zacks Investment Research upgraded shares of Steel Dynamics from a hold rating to a buy rating and set a $52.00 price objective on the stock in a report on Wednesday, September 12th. Finally, Seaport Global Securities started coverage on shares of Steel Dynamics in a report on Thursday, October 11th. They issued a buy rating and a $55.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. Steel Dynamics presently has a consensus rating of Buy and an average target price of $50.42.

Steel Dynamics stock opened at $33.49 on Tuesday. The company has a market cap of $7.60 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 0.60 and a beta of 1.36. Steel Dynamics has a 52-week low of $28.91 and a 52-week high of $52.10. The company has a current ratio of 3.94, a quick ratio of 2.17 and a debt-to-equity ratio of 0.61.



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

The business also recently announced a quarterly dividend, which was paid on Friday, January 11th. Investors of record on Monday, December 31st were given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, December 28th. Steel Dynamics’s dividend payout ratio (DPR) is 28.30%.

In related news, Director Richard P. Teets, Jr. bought 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 28th. The shares were purchased at an average cost of $33.85 per share, with a total value of $677,000.00. Following the transaction, the director now directly owns 5,022,779 shares of the company’s stock, valued at approximately $170,021,069.15. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 4.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Canton Hathaway LLC purchased a new position in shares of Steel Dynamics in the 3rd quarter valued at $106,000. Qube Research & Technologies Ltd purchased a new position in shares of Steel Dynamics in the 2nd quarter valued at $119,000. Stratos Wealth Partners LTD. purchased a new position in Steel Dynamics during the 3rd quarter worth $134,000. Gideon Capital Advisors Inc. purchased a new position in Steel Dynamics during the 3rd quarter worth $203,000. Finally, Brookstone Capital Management purchased a new position in Steel Dynamics during the 3rd quarter worth $214,000. 83.84% of the stock is currently owned by hedge funds and other institutional investors.

About Steel Dynamics

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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